Founded in late 2014 by a bunch of IITans,Jugnoo, the auto-rickshaw aggregator, announced its entry into the taxi aggregation business on Sunday to take on other Taxi aggregators like Ola and Uber.
Apart from Taxi aggregator, Jugnoo also entered the market as an hyperlocal businesses food and grocery delivery service. As per the company, they are awaiting the right moment to enter into taxi aggregation business for some time. Launched as a pilot in Gurugram, Jugnoo intends to soon expand into other cities.
“Jugnoo’s strategy to diversify its offerings and enter into the business vertical comes at a time when drivers are looking for an alternative to resolve their earnings and incentive issues,” the company said in a press release.
Beginning its operations in November 2014, Jugnoo saw stupendous growth and zoomed past 12,000 auto rickshaws in less than two and half years. The aggregator already operates in 40 cities. With leading cab aggregators facing revolt against decreasing incentives and rising demands to increase ride fares, it will be interesting to see what business strategy Jugnoo adopts.