BookMyCab.com, an online and phone-based cab booking service has raised its first round of funds from early-stage investor YourNest Angel Fund and Mumbai Angels. Run by LiveMinds Solutions Pvt Ltd, BookMyCab is the only service provider to book Black and Yellow Taxis and Cool Cabs in Mumbai. With over 1900 taxis registered for the service, BookMyCab.com plans to use the funds raised from YourNest Angel Fund to expand its taxi base to secure a leadership position in Mumbai.

LiveMinds Solutions is the sole licensee from Maharashtra Government to run its call taxi service under the brand name BookMyCab.com. BookMyCab.com has an exclusive Pan India partnership with ARS SE (subsidiary of ARS Traffic and Transport Technology BV, The Netherlands) for running its entire technology backend including dispatch technology comprising navigation device, automated dispatch technology and IT infrastructure.

“BookMyCab.com is the only call taxi service in Mumbai to book regular Black and Yellow taxis which include the newer models like Santro, Wagon R, EECO, Swift Dzire, etc. While it offers the lowest metered fare to the customers it also ensures the passengers safety through real time tracking of every cab round the clock thus making it a distinct taxi service in the city,” says Avinash Gupta, Managing Director, BookMyCab.com

Raviraj Jain, Founding Director, BookMyCab.com, said, “We aim to improve accessibility to taxis for the average commuter by providing them convenient booking options via the internet and phone. Soon, we’re also launching location-based iPhone and Android phone app and social media module to allow commuters to book taxis via Facebook.”

Sunil K Goyal, CEO and Fund Manager, YourNest Angel Fund who will also join as a nominee on board of director of BookMyCab.com, said, “There is an urgent need to address the state of the local transport in metros like Mumbai. Presently, while commuters suffer due to lack of sufficient cabs offering quality service, taxi drivers are faced with low earnings. BookMyCab.com effectively addresses both these issues. As we move forward, the company will extend this model to other cities too.”

 “Great team, world class technology partner, licensed by the state government and a scalable business model attracted us to partner YourNest in sharing the vision of BookMyCab.com,” Anil Joshi, Mumbai Angels, said.