Roder will use the raised capital for achieving market fit product, customer acquisition and for expansion in 20 new cities in North and Western region of the country.
Founded in 2014 by Abhishek Negi, Ashish Rajput and Siddhant Matre, Roder, is an inter-city on-demand cab aggregator startup that aims to revolutionise the travel between cities by offering cabs at almost half the fare than market rates for one-way journeys.
If a user books a cab via any operator, they are usually charge for the round-trip. Whereas, travelling via Roder the fare is only for actual distance travelled hence making it almost 50% cheaper than the market pricing.
Speaking on the development, Abhishek Negi, co-founder of Roder said, “Since our inception in 2014, we have generated a GMV of over a crore by fulfilling 500 rides on a monthly basis, with an average ticket size of INR 5,500. We are creating a new market for outstation cab services. The demand for booking one-way rides via our platform has grown from 5% to 70% from our early days.”
The app is currently available only in Android platform. The service can be accessed through Roder’s Android app, website and call center. The startup will soon launch a ‘ride-sharing’ feature as well. Currently, it has a pool of more than 4,000 drivers and is present in 13 cities.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.