Gurgaon-based MyTaxiIndia (MTI), an online platform to book outstation taxi and cab rental services in India, has raised strategic investment from UAE-based investment and holding company Zain Group of Companies.
The startup was founded in 2013 by Anshuman Mihir (CEO). MTI is an outstation taxi and cabs service provider, focussed on servicing both one-way taxi and package-based outstation taxi service segments. Its services are available in more than 120 cities across India with 10,000-plus routes, including Delhi, Bangalore, Mumbai, Agra, Chandigarh, Pune, Manali, and Shimla.
Last year, it launched a mobile app on iOS and Android platforms that enables customers to check the availability of taxis in real time, gives them instant confirmation with driver details, and allows them to check their ride en-route on the map.
“Our asset-light business model and technology are helping us to become profitable. We are moving towards profitability city by city. Today, we are profitable in 23 cities of India and in the next financial year, we will be profitable in 40 more cities,” said Mihir.
MTI was part of the Green House Ventures (GHV) Accelerator Program. The firm has previously received an initial funding of US$100,000, followed by a US$1 million from Japan’s largest taxi company Nihon Kotsu. The capital raised from Nihon Kotsu was utilised for expanding services to Tier 2 and 3 cities, technology development, marketing and branding.