Gozo Cabs, India’s leading provider for outstation taxi travel across 1000+ cities in India, has raised an undisclosed amount of funding from renowned Silicon Valley investors.
The funds raised will be used to expand Gozo’s footprint across India, launch new products and strengthen the tech infrastructure. This fundraise includes participation from Silicon Valley technology industry veterans and serial entrepreneurs like Prem Jain, Former Cisco SVP and Jayan Ramankutty who is also a serial entrepreneur.
The funding came three months after the startup introduced its ride-sharing service - Gozo Share, using which travellers can share taxi rides with others while travelling from one city to another
Speaking about Gozo, Prem Jain, said, “I invest in startups that are not replicas of other companies and have a long term goal. I appreciate entrepreneurs who have a deep understanding of the market and are focused on creating impact. There are many such inspiring stories of Indian start-ups, Gozo Cabs being
one of them”, said Mr. Prem Jain on his association with startups, mentorship and venture funding. .”I have full faith in the leadership of Gozo Cabs who have got promising plans to get a bigger slice in India’s mobility industry. They have the vision and excellence to become a company to reckon with in the near future” added Mr. Jain.
Talking about the funding, Deepesh Arora, Co-founder & CEO, Gozo Cabs said “We are grateful to our investors who have validated our dreams. Within 3 years, we have built an enviable network and strong, pan India presence to emerge a leader in the outstation taxi travel market. This funding is a significant milestone in allowing us to expand the business, strengthen our development to offer end to end travel services and create value in the market”.
Gozo Cabs is a best of the breed outstation travel service provider. Gozo Cabs has aggregated over 25,000 cabs on its tech platform and has already served rides in over 1000 towns and cities across India. It has enlisted verified and commercially registered vehicles and drivers on the platform who meet stringent protocols in order to offer a standardized, safe and reliable experience to outstation travelers. Unlike traditional peer-to-peer ride-sharing services and intra-city cab service providers, Gozo Cabs’ focus on outstation travel, ensures that their fleet of drivers are skilled at highway driving, familiar with routes and have the mindset aligned with travelling outstation on an ongoing basis.
Recently, Gozo signed exclusive agreements with Sula Fest and UP Tourism for Kumbh Mela. In 2019, Gozo seeks to establish more of such partnerships with tourism boards across the country.
The Inter-city taxi segment is estimated to be a USD 12 Billion market in India, according to the Indian Angel Network (IAN). With changing transportation dynamics, a declining trend in car ownership and an increasing convenience seeking customer, cabs are becoming the preferred choice of travel for outstation riders.