An Indore based aggregator is set to launch Rickshaw pooling, based on the same idea as carpooling. This startup company is currently developing a mobile app for the same.
TeleRickshaw, is presently in talks with a few private equity players to raise around USD 2 million (INR 20 lakhs) to start up with raising funds.
Karanvir Singh, the founder of TeleRickshaw.com says the company will finish up with the first round of fundraising by the end of this month.
The funds will be used to upgrade technology and also to help the company expand to 10 Indian cities, which includes Bangalore.
The company started off with 50 rickshaws a year ago and currently operate around 5,000. The company also offers door-to-door service and claims all the drivers have undergone background verification and have collected all their details.