News Digest

15 December 2017
AHA Taxis mulls raising series A funds of at least

Noida-based AHA Taxis, a cab aggregator for outstation trips, today said it is planning to raise Series A Funding between Rs 20 crore and Rs 30 crore. Last month, the cab aggregator had raised an undisclosed pre-series A funding led by lead angels and its investors ah! Ventures, AHA Taxis Co-Founder Arayan Kumar Sharma told PTI here. Sharma said the company plans to invest proceeds in technology and expansion of services to Karnataka and other southern states like Telangana, Andhra Pradesh and Tamil Nadu. “We want to invest the proceeds to build technologies relating to automation and artificial intelligence. This, I believe, will scale up our business down South in states like Karnataka, Telangana, Andhra Pradesh and Tamil Nadu,” he said. In the next round of funding, the company intend to expand in Kerala, he said. The company wants to make an official launch of its cab services in Karnataka by December end, Sharma said. He said the company offers one-way fare for hiring taxis for outstation trips, whereas the trade norm used to be to charge the return fare. To a query, Sharma said the company believes in the profit-making business model rather than the American model of traction and volumes model. He said the company is providing outstation taxis service in more than 4000 destinations across India.

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