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.
Digital transformation is a major need of the hour in the rental taxi market, and companies like Hire me Car, Savaari attempt to do just that.“Our cloud-based solutions and digital transformation system would play a key part in digitally transforming this sector. As a socially conscious organization, we see huge potential in the sector to generate jobs and make people economically self-sufficient,” added Pankaj Sharma.
The management at Hire Me Car will be pretty happy considering the investment comes in the most devastating period in the decade. This reposes faith in the industry and the unmined potential in the Indian consumer ecosystem. Considering that Hire Me Car's partners are making lucrative returns, the Noida based taxi rental startup is here to stay. Hire Me Car rides on the ideals and vision for socio-economic transformation in India.
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