Indian Angel Network (
IAN), which is world’s largest network of angel investors, has invested Rs 4 crore as funding in
Wiwigo.com, an inter-city taxi service provider.
The
inter-city cab market stands at $20 billion as of now, with several players making good use of the growing market. Wiwigo, which is an online platform for intercity travel, has its USP in addressing the expensive problem when passengers have to travel just one way. The company claims to help them save almost 45% of current fares.
As of now, the cab-operator is present in over 40 cities, offering roundtrip and multi-city travel options. With the new funding, it aims to expand its operations to over 100+ cities by yearend.
Also read: IAN invests in AI-based research venture Staqu
In India, the intercity car rental market in India stands at approximately $9 Billion, growing at 12% annually. However, around 90% of this market is still unorganized. Started in April last year, Wiwigo aims to organize this market.
Talking of the funding, it was led by IAN investors
Priyank Shankar Garg &
Harsh Chitale, and Garg would also be joining the Wiwigo board soon.
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