Hire Me Car, India’s pioneer in taxi rental services bagged an undisclosed seed round funding from a group of US-based NRI investors. The investment comes when the transportation industry is reeling under the impact of the Covid-19 induced lockdown in the country. The taxi rental business in India is predominantly unorganized, which opens up massive disruption and eventual consolidation in the market.
“The Indian taxi rental market offers a large socio-economic opportunity for India, with more than 90% of the market falling in an unorganized sector and less than 5 percent of the independent taxi owners, and having access to the technology. We see a high potential for growth in this market.” quoted Pankaj Sharma, Chief Evangelist of Hire Me Car.