Funding Received
$66.8 Million in 4 Rounds from 7 Investors
Most Recent Funding
$41.5 Million Series C on July 9, 2014
Founded:
December 3, 2010
Headquarters:
Mumbai
Description:
Olacabs is an aggregator of car rentals and point-to-point cab services.
Founders:
Ankit Bhati, Bhavish Aggarwal
Categories:
E-Commerce
Website:
http://www.olacabs.com

Detailed Description

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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.

Current Team (2)

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Past Team (1)

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Funding Rounds (4) - $66.8M

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Investors (7)

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Offices/Locations (1)

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  • Office

    406, Pluto

    Suncity Complex, Powai

    Mumbai, 400076

    IND

Images (6)

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