EbixCash, the Indian unit of Ebix Inc. — a supplier of enterprise software and ecommerce services — today announced that it has acquired 70% stake in Noida-based AHA Taxis for an undisclosed amount.
AHA operates cabs which take up inter-city travel primarily, with a network of more than 15,000 registered AHA Taxis. Founded by Amit Grover, Kunal Krishna and Shivam Mishra, AHA has pioneered an offering of one-way fare for hiring taxis for outstation trips, where the trade norm used to be to charge the return fare also.
AHA cofounder Kunal Krishna said, “Our domain knowledge and technology has helped us solve the several decades’ problem plaguing the taxi travel space in the country. With Ebix, we intend to take AHA offerings to every Tier 2, Tier 3 city in the country.”
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With 11 acquisitions in 14 months and investments worth nearly $500 Mn (INR 3,526 Cr ), Ebix has been one of the most active buyout specialists in the Indian startup ecosystem, after snapping up ventures across sectors like travel, remittances, payment solutions and elearning among others.
Ebix CEO Robin Raina said, “AHA Taxis provides our Via and Mercury travel brands with another in-house tool to cross-sell cab services to our Corporates, B2C clients and OTA clients.”
Ebix is already using AHA as an outside vendor. “Our 260,000+ strong franchise network will now be able to sell cab travel as an integral tool through online cloud-based technology,” Raina added.