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General Information

Offices

Mumbai, IND
406, Pluto
Suncity Complex, Powai
Mumbai, 400076, IND

People

Co-Founder and CEO
Co-Founder and CTO

Funding

TOTAL $25M
FUNDING TOTAL $25M
Angel, 4/2011
Rehan yar Khan
Anupam Mittal
Series A, 4/2012
Tiger Global Management
$5M
Series B, 11/2013
Tiger Global Management
Matrix Partners
$20M

Tags

Olacabs

Olacabs, founded in January 2011 by two IIT Bombay alumni Bhavish Aggarwal and Ankit Bhati is India’s first aggregator of car rentals and point-to-point cab services. Olacabs integrates car transportation, be it point-to-point services within a city, hour-based rental services or outstation travel, onto a technology platform, ensuring convenient, transparent and quick service fulfillment for the customer. Customers can access Olacabs, on the web, through a mobile app or through a customer service centre. Currently, Ola offers services across Mumbai, Delhi NCR, Pune and Bangalore.

Olacabs does not own or operate its own fleet, but aggregates small fleet operators and single vehicle owners. The inventory utilisation among small cab operators (ownership of 1-3 cabs) in India is an abysmal 40-50%. Cab owners benefit from the Olacabs network and technology platform and that in turn helps them procure customers and enhance their income through better inventory utilisation. In Mumbai, inventory utilisation levels have gone up to 70% for cars that are on the Olacabs platform.

Olacabs is the first service to offer Android, iPhone and Web app in India that not only books a cab, but also helps customers track their cab on their mobile phone until it reaches them. Olacabs also has an app for drivers that acts as an in-car navigation and communication device. Olacabs also conducts regular car audits, driver training & sensitization sessions and to ensure standardized service delivery and customer comfort.

Recent Milestones

Videos

Screenshots

Olacabs screenshot
Above: Olacabs - Ride now
Uploaded: 2/27/13
Olacabs screenshot Olacabs screenshot Olacabs screenshot
Olacabs screenshot Olacabs screenshot

Sources

  1. Olacabs.com receives first round of angel funding from Anupam Mittal & Rehan yar Khan (yourstory.in) [edit]
  2. Car Rental Startup Olacabs Secures INR 40 Crores Funding From Tiger Global (yourstory.in) [edit]
  3. Exclusive: Olacabs Raises Series B ($20mn) from Tiger Global and Matrix Partners. To Expand Into Non-Metros (nextbigwhat.com) [edit]
  4. Ex Flipkart VP Maneesh Mittal Joins Olacabs (yourstory.in) [edit]
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Last Edited 11/12/13

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