Inter-city taxi service provider Wiwigo.com has raised Rs. 4 crores from Indian Angel Investor (IAN), with Priyank Shankar Garg & Harsh Chitale leading the round. They will be joining the board for Wiwigo as a mentor for its fast growth.
Wiwigo has s an online platform for intercity travel by cab –addressing the expensive the one-way trip problem. It has ongoing contracts with large OTAs to serve their customer base for holiday packages and last mile connectivity.
This current fundraises will help Wiwigo expand its operations to over 100 cities by the end of current year, making it one of the fastest growing companies.
From customer booking to vendor bidding and driver selection, car confirmation, car tracking, journey alerts and customer feedback, the entire process is managed with automated workflows.
These actions are monitored and managed by Wiwigo team through operations admin panel. Most bookings are already being fulfilled through the automated system.
The intercity car rental market in India is approximate $9 billion and it’s growing at 12% CAGR. Around 90% of this market is unorganised and highly fragmented.
As per the Ministry of Transport figures, estimated inter-state passenger taxi revenue was around $3.5 Billion in 2012. The company estimates that one-way taxi target market is roughly around $550 Million.
