Delhi-based start-up Nohup Technologies has raised USD 200,000 angel funding led by Paysense founder for its taxi search, comparison and booking online platform Cabsguru.
“Nohup Technologies Private Limited has raised angel capital from a group of investors at a 3.5 Million Dollar valuation. The investment round is led by Prashanth Ranganathan, founder and CEO of Paysense and former Head of Product, APAC for PayPal,” the company said in a statement.
Sources said that the funding is to the tune of USD 200,000 (around Rs 1.33 crore) which the company will use to strengthen product portfolio.
Cabsguru has operations in 75 cities. It provides end users single search for multiple cab providers like Ola, Taxi For Sure, Meru, Easy Cabs, Mega Cabs, Yo Cabs, Tab Cab, etc, facilitates booking, tracking and rating of cabs of these services.
The company is also in the process of building a cross-vertical data gathering and analytics engine that is being designed to predict the Indian user’s preference of road travel across multiple verticals including bike taxis, self-drive cars and cab offerings from various cab providers, the statement said.
Cabsguru was founded in 2014 by Vikash Singh, a Computer Science graduate from National Institute of Technology, and Pulkit Ahuja, MBA from Lal Bahadur Shastri Institute and author of book ‘Googled by God’.