TFS enters three wheeler auto booking segment recently. The Bangalore based company recently added fleet of 100 Nano cars into their fold. In another move Taxi For Sure (TFS) has tied up Three Wheels United (TWU) to start auto services to the public.
TWU is social enterprise that named as Namma Auto focuses on economic and social development of drivers. They helps to create additional revenue streams for auto drivers. Assists them to use cleaner environment technology by encouraging to use 4 stroke auto’s and assisting in getting softer loans to buy new autos.
Taxi For Sure (TFS) is an App based cab operator operates taxi services in more than 35 cities. TFS has serviced more than 700,000 customers. The company is an aggregator provides various taxi services like point to point services, cab services, airport transfer and local as outstations packages.
The app works seamlessly in Google Playstore, iPhone and Window based environments backed by call centre who handled the queries from the customers on the product offerings.
Taxi For Sure is a platform owned by Serendipity Infolabs Pvt Ltd based out of Bangalore. The company was founded in 2011 by Raghunandan G and Aprameya Radhakrishna. Both of them graduated from National Institute of Technology, Karnataka. Further they got their Masters from Indian Institute of Management, Ahmedabad.
Raghunandan G had worked as consultant with Feedback Ventures and Aprameya Radhakrishna worked with IT major Infosys and Real Estate Service Provider Jones Lange Salle India.
The company claims growth rate of more than 600% growth. They have surpassed more than 3 million transactions till date. More than 6,000 drivers and 800 operators are working under Taxi For Sure.
To increase the market share in the segment, the company has invented a number of business strategies like collaborating with popular Radio Station Fever 104 contributing towards flood relief in Jammu and Kashmir.
TFS has started finishing school for drivers. In the school, drivers will be trained on their soft skills and covers several aspects like gender sensitivity, customer safety, emergency management, First-aid, Actions to be taken in case of emergencies, rules and regulations for the cab industry, grooming and technology. The duration of the course is 6 days and offered free to drivers. After the course completion, each participant will receive a certificate along with the medal.
TFS started installing Panic Button and GPS Devices in their fleet of vehicles. More than 300 cabs have been fitted with this feature in Taxi For Sure which will be an ongoing exercise from the company. The bright coloured panic button is located near the rear passenger seat in the cab, which can be used in emergency situations. Once pressed, a signal reaches company’s control room, as TFS staff will get in touch with the passenger and drivers to check the situation.
Apart from Panic Button and GPS Devices, passenger has added feature in the app called as ‘Inform a friend.’ The feature allows passenger to be tracked with the help of What’s app, Facebook, mail or SMS at single touch on the smartphone. Passenger can share driver details, Driver’s phone number, cab number and link to track live status of the cab.
As promotional strategy, Taxi For Sure offers rides as low as Rs.49 for first 4 kms. “In the three years since we started, we have acquired a large number of cabs in each city which helps us enjoy a significant network effect, leveraging our technology. More cabs means more drivers in each area who can make more trips – especially when they are short runs and make more money. All our products and initiatives are as driver friendly as customer friendly they are” stated Raghunandan G, Co founder of Taxi For Sure.
Taxi For Sure has received several rounds funding since its inception. They received their seed funding for an undisclosed amount during May 2012 by Accel Partners, Helion Venture Partners and Blume Ventures. The company was funded once again by the same venture capitalists during June 2013, for $4 million as Series A funding. Bessemer Venture Partners funded $10 million as Series B funding during April, 2014. During Aug 2014, they received $30 million as Series C funding from Accel Partners, Accel India Ventures, Bessemer Venture Partners and Helion Venture Partners.
After investment Anand Daniel of Accel Partners joined the board of Taxi For Sure. Former Head of Meru Cabs Ronald Rosario is handling operations of the company as Chief Operating Officer.
Online taxi booking is one of the fastest growing segments in India. Many private equity and venture capitalists are investing in companies like Olacabs, Savaari, TaxiGUIDE and Cabs24x7. Recently Olacabs also introduced auto services thru their app. Industry observers’ state that TFS action as me too.
However due to recent incidents that shook the country after rape case in Delhi in Uber cab. Passenger safety, correct background verification of drivers, installation necessary buttons and GPS tracking has been installed by cab operators as per Government guidelines.
Unclear rules and regulations causing mayhem in taxi booking segment further creating hindrances to app based companies which rely on technology. Need to be seen how the app based taxi operators work under new circumstances.