New Delhi based cab search, comparison and booking platform Cabsguru, owned by Nohup Technologies Private Limited has raised angel capital from a group of investors at a 3.5 Million Dollar valuation. The investment
round is led by Prashanth Ranganathan, founder and CEO of Paysense and
former Head of Product, APAC for PayPal. Prashanth had previously
founded Truvie Security (sold to PayPal in 2011) and cofounded SayNow
Inc (sold to Google in 2010).
On Monday, Cabsguru announced that it
has pioneered and launched a first of its kind multiple cab operator cab
search and booking bot called Robocab. “Robocab has been programmed to
solve the most common pain point of today’s cab users – the pain of
seeing No Cabs Available on your cab app screens during the peak morning
and evening hours when you need your cabs the most”,Vikash says.
Pulkit Ahuja, Founder, Cabsguru reveals
that, “The idea of Robocab came to life after going through the same
problem on a daily basis. Robocab ensures that the Cabsguru users don’t
have to sit and keep juggling between different cab apps like Ola, Uber,
Taxi For Sure, Meru and Easy Cabs during rush hours until they find a
cab.” Robocab handles this for the users based on their predefined
preference of time, cab operator, cab type and surge pricing. “Robocab’s
backend design is based upon the algorithmic trading of stocks, the
only difference being that instead of buying stocks, Robocab indulges in
booking cabs based on a selected set of rules defined by the user.”,
adds Pulkit.
The fresh funds would be used by the
company to further strengthen their product and cause the next wave of
disruption in India’s road travel space by bringing innovation and
efficiency at both the demand and supply sides of the ecosystem. The
company is also in the process of building a cross-vertical data
gathering and analytics engine that is being designed to predict the
Indian user’s impulsive preference of road travel across multiple
verticals including bike taxis, self-drive cars and cab offerings from
various cab providers.
