TaxiForSure raises venture capital from Accel, Helion

Serendipity Infolabs Pvt. Ltd., which runs the online taxi booking site TaxiForSure.com, has raised venture capital funding from Accel Partners, Helion Venture Partners and Blume Ventures. As part of the transaction Anand Daniel of Accel and Ritesh Banglani of Helion have joined the board of the company.

TaxiForSure.com was founded by IIM Ahmedabad graduates Raghunandan G and Aprameya Radhakrishna in June 2011. As frequent business travelers, both co-founders used to find it extremely difficult to book taxis, and even after booking there was no guarantee the cabs would arrive at the right time and place. Co-founder Aprameya Radhakrishna said, "On researching the market we found that on the one hand consumers struggle to find taxis reliably, and on the other taxi operators and drivers struggle to get enough customers every day. We realized that technology can play an effective matchmaker in this market".

Anand Daniel of Accel Partners said, "As a consumer I have often faced the frustration of not finding a taxi when I needed it the most. TaxiForSure is a refreshingly better experience as one is assured of getting a taxi at the click of a mouse. And when our team met Aprameya and Raghu, their passion and energy to solve this big consumer need was clearly visible and convinced us to partner with them."

Ritesh Banglani of Helion Advisors said "Our previous investments in Makemytrip and Redbus have shown us the tremendous potential of the online travel industry. We are excited to back TaxiForSure because they are tackling the next frontier in online travel by organizing a highly fragmented industry. The use of technology in this industry will benefit both consumers and taxi operators".

The service is currently operational in Bangalore and will be available in Delhi and Mumbai very soon.

Source : Equity Bulls

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