One Way AC Taxi Service Oneway.cab Raised USD$450K From Indian Angel Network
One Way AC Taxi Service for inter-city travel, Oneway.cab, has raised USD $450,000 from Indian Angel Network (IAN).
Ajay Gupta, head of strategy and marketing at Ericson India and the lead IAN investors, will join the startup’s board.
Besides, Abhishek Agarwal, director at Fortune Interfinance, and Rahul Mehta, private equity investor at IL&FS Investment Managers, will provide guidance and mentoring.
Using Oneway.cab, you don’t need to pay return fare for your one-way travel from one city to another unlike other taxi services which charge both side fare if you need to travel only one way.
One Way AC Taxi Service for inter-city travel Oneway.cab was founded by Vivek Kejriwal and Devang Sanghvi in 2014.
On this development, Devang Sanghvi , the co- founder and COO of OneWay.Cab said, “After been funded, we expect to accelerate our growth in excess of 45-55% month-on-month. We have a customer base of more than 30,000 passengers and get about half of our bookings from Gujarat and 40% from Maharashtra. Based on present business, we anticipate annual revenue of $1 million.”
The startup has set high standards in their way of operations by including the facilities like instant booking & confirmation, confirmed booking immediately, no return fare for one-way trip, no extra night or luggage charges and multiple payment option. They have so far accomplished more than 20,000+ one-way trips.
OneWay, aims to provide one way inter-city travel by integrating last mile connectivity. The startup has raised the capital for expansion, technology upgradation and hiring. It presently provides services for at least 100 one-way routes from Ahmedabad, Rajkot, Udaipur, Jaipur, Vadodara, Surat, Mumbai, Nashik, Bhopal, Indore and Pune.