TaxiForSure raises funds from VCs

TaxiForSure has raised venture capital funding from Accel Partners,Helion and Blume Ventures.

Written by Agencies | Mumbai | Published:May 21, 2012 8:05 pm

Serendipity Infolabs,which runs the online taxi booking site TaxiForSure.com,has raised venture capital funding from Accel Partners,Helion Venture Partners and Blume Ventures.

Though the funding amount is not disclosed,it is in line with angel funding that the company received during its initial days,a company official said.

“We will utilise the proceeds to expand our team,especially marketing,along with widening our base to other cities,” Aprameya Radhakrishna,co-founder of TaxiForSure.com said today.

He also said the company will expand its base to Mumbai and New Delhi by end of this fiscal.

TaxiForSure,started by two IIM-Ahmedabad graduates– Aprameya Radhakrishna and Raghunandan G,is an aggregator of car rentals and taxis to ensure that customers get an easily accessible,safe,reliable taxi ride.

With this deal,Anand Daniel of Accel and Ritesh Banglani of Helion will join the board of the online venture.

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 organising a highly fragmented industry.”

Daniel of Accel Partners also said the fund house sees a great deal of opportunity in this space.

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