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May 12, 2014

Deal Alert: Auto rickshaw ordering service mGaadi raises seed funding from Unitus Capital

India Drivers Network Services, which owns and operates mGaadi, a mobile commerce ordering service for auto rickshaws, has raised seed funding from impact investment firm Unitus Seed Fund. Proceeds from the round will be used by Bangalore-based mGaadi to expand its network of auto drivers, establish its footprint across the country and develop its technology platform. 

By using mGaadi’s service, consumers can order an auto rickshaw for near-immediate pick-up, or to schedule a pickup using their mobile phone — either through an app or a voice call. Founded in 2013 by serial entrepreneurs Solomon Prakash and Vishy Kuruganti, mGaadi claims to have signed over 2,100 auto rickshaw drivers on to its network. mGaadi expects to have 20,000 auto rickshaw drivers on its platform by the end of 2014. 

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