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The Plunge Daily raises $450,000 from Indian Angel Network

One-way cab service provider raises $450,000 from Indian Angel Network (IAN)

News raises $450,000 from Indian Angel Network

Gujarat-based cab service provider, which provides one-way AC Taxi service for inter-city travel, has raised $450,000 from Indian Angel Network (IAN).

The idea behind this service was aimed at reducing the expenses one has to bear while intercity travelling as at times many cab service providers charges a two-way fare for the service. In, you don’t need to pay return fare for your one-way travel from one city to another.

Speaking about the development, Devang Sanghvi , the co- founder and COO of OneWay.Cab said, “After been funded, we expect to accelerate our growth in excess of 45-55% month-on-month. We have a customer base of more than 30,000 passengers and get about half of our bookings from Gujarat and 40% from Maharashtra. Based on present business, we anticipate annual revenue of $1 million.”

The startup aims to use the capital for expansion, technology up gradation and hiring. Currently, it provides services for at least 100 one-way routes from Ahmedabad, Rajkot, Udaipur, Jaipur, Vadodara, Surat, Mumbai, Nashik, and Pune.

Founded by Vivek Kejriwal and Devang Sanghvi in 2014, OneWay, aims to provide one-way inter-city travel by integrating last mile connectivity.

The startup has set high standards in their way of operations by including the facilities like instant booking & confirmation, confirmed booking immediately, no return fare for a one-way trip, no extra night or luggage charges and multiple payment options. They have so far accomplished more than 20,000+ one-way trips.

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