Funding story
Providing transportation solutions through technological innovation has become a key focus of startups of late. Cab aggregation has already taken off in a big way, with the likes of Ola and Uber providing services not just in metropolises, but also in numerous tier-I and II services. Now, two-wheeler aggregators are also making their presence felt. M-TAXI, which provides on-demand two-wheeler services, recently raised angel funding. Angel investors Mandeep Singh and Jairaj Singh led this round. M-TAXI was launched in February, and its services will commence in Gurgaon from Dec 1st. The startup seeks to use the funding raised to create a pan-NCR presence in the coming months.
What is M-TAXI?
M-TAXI was founded by Arunabh Madhur. Two-wheeler aggregation may be a relatively new concept, but it is one with a lot of potential. M-TAXI’s chief aim is to bolster “last mile connectivity”, allowing for extremely short-distance journeys at low cost. The startup also seeks to make its services accessible and convenient to book. The 3-10 km range journeying is a niche which M-TAXI is targeting. Given the configuration of Gurgaon and the NCR region in general, small-distance commutation often involves several drawbacks. Young, working professionals and students are thus in need of cheap, effective options which M-TAXI seeks to provide.
M-TAXI currently charges only INR 25 for the first three kilometers, and INR 5 for every subsequent kilometer. Like all good aggregators, it too seeks to release smartphone apps for Android and iOS users. The user will be able to book the service via the app, track the rider as he travels to the user’s starting point, before hopping on board and journeying towards his intended destination.
What we think
M-TAXI is likely to make a huge splash in a hitherto unexplored category, even if it is part of the broader booming segment of vehicle aggregation. M-TAXI’s focus on customer satisfaction and innovation are sure to benefit a very large number of people in the near future.
Watch this space for more developments.
