Thursday, March 28

Tag: taxi app

SoftBank Encouraging Uber to Merge Operations with Ola
News

SoftBank Encouraging Uber to Merge Operations with Ola

Several news sources are reporting that Japanese giant investor SoftBank Group is putting pressure on Indian ride-hailing company Ola to merge with American rival Uber as part of a consolidation plan in India which represent the fastest growing market for ride hailing. SoftBank is currently the largest investor in both the companies and are reported to have been holding talks for over a year concerning the merge. The wish of Softbank to see the deal go through intensified after Uber decided to leave the ride-hailing market of Southeast Asia after admitting defeat to local competitor Grab last week. Reports suggest that the deal will be completed in the coming two months as both companies wish to have controlling stakes in the deal. This is the main reason why the deal is taking so long ...
Bike Taxi App Raises Fresh Funding From Skycatcher, Others
FUNDING

Bike Taxi App Raises Fresh Funding From Skycatcher, Others

[dropcap]H[/dropcap]yderabad based Bike taxi operator Rapido, run by Roppen Transportation Services Pvt Ltd has received a funding of Rs 2.14 crore (around $329K) in a fresh round of funding from US Based Skycatcher Fund and UK-based Thompson Taraz Managers, Aravind Sanka, co-founder at Rapido told a financial daily. The bike taxi startup will be utilizing its funds to expand its geographical presence in the country, and strengthen its team. Rapido had earlier raised a funding of $422K in a round led by US based Battery Road Digital Holdings LLC. The round saw participation from its existing investor Astarc Ventures and an undisclosed Indian technology fund as per the reports by VCCircle. Also Recommended 100 Indian Startups Will Receive $1B Funding From Xiaomi : Lei Jun   ...