Online and phone based cab booking service BookMyCab.com, has received its first round of funding from early-stage investor Your Nest Angel Fund and Mumbai Angels.Currently operating in Mumbai, BookMyCab.com is run by the startup LiveMinds Solutions Pvt Ltd.
BookMyCab is the only service through which users can book the non-AC yellow-and-black cabs, as well as AC cool cabs, at the regular meter fare. LiveMinds Solutions has also acquired a licence from the Maharashtra government to provide booking of these cabs over phone and via its portal. Currently over 1900 taxis are registered under this service and the funds will be utilized by BookMyCab to expand its taxi base to secure a leadership position in Mumbai.
Raviraj Jain, founding director of BookMyCab said,“We aim to improve accessibility to taxis for the average commuter by giving them convenient booking options via phone and the Internet. We will also launch location-based iPhone and Android apps and social media module to allow commuters to book taxis via Facebook”.
Sunil Goyal, CEO and fund manager of YourNest Angel Fund, will be joining the board of BookMyCab as a nominee. YourNest, an early-stage fund, has also funded kids-related services firm Mycity4kids.com and video analytics startup Proof Of Performance
Mumbai Angels, an active investor in tech startups has invested in Pune-based gaming startup Rolocule Games, Bangalore-based mobile, broadband and wireless technology firm United Mobile Apps and Bangalore-based education technology startup Carveniche, among others.