Bengaluru: Jugnoo, the Chandigarh-based hyperlocal marketplace which is backed by PayTM, has acquired Bookmycab. Earlier in June this year, Jugnoo had raised $5 million in its Series A funding round led by Snow Leopard, with PayTM contributing to the round. While the financial details of the new transaction remain undisclosed, it is also said that the company is already in plans to raise $20 million in Series B round soon.
With this complete cash and stock deal, Jugnoo plans to concentrate on extending its business operations to Mumbai, Delhi and Kolkata along with the cities where Bookmycab already has its presence. It will also add all 40 employees of Bookmycab to its existing workforce of 150 employees.
Founded a year ago by Samar Singla and Chinmay Aggarwal, Jugnoo operates three on-demand mobile apps – Jugnoo Autos, Jugnoo Meals and Jugnoo Fatafat, through which the users can book an auto, order fresh home cooked food or get anything delivered. It has more than 150,000 registered customers and fulfills over 5000 orders every day. The company also claims that its delivery segment is seeing a growth rate of 20% week-over-week.
Bookmycab, owned and operated by LiveMinds Solutions Private Limited, is the brainchild of IIT Bombay alumnus – Avinash Gupta, Raviraj Jain and Nimbalkar. It is the first taxi service in India to launch metered Black & Yellow taxis as well as the air conditioned Cool Cab Taxis. Bookmycab provides taxi booking services along with other services like airport and railway station transfers and local point-to-point travel.