Shared cab service Cubito raises angel investment and launches in Bangalore
Saturday July 27, 2013,
2 min Read
Cubito is an ambitious effort by a group of BITS Pilani Goa graduates to change the way transport works in India. The company offers shared cab services and started with a 6 month long pilot in Goa. The company has informed that it has raised angel investment (upwards of INR 1 crore) from India based angels and has opened up services in Bangalore.
We've previously argued why car pooling won't work but Cubito is looking to make the cab serive more affordable. Cubito pools people sharing the same route (as opposed to the regular source –destination pooling solutions) and arranges for a common cab to transport them. Cubito has introduced their services in Bangalore for daily commuters initially for weekly and monthly booking and have made the pricing simple at Rs7.5/Km (introductory offer for people registering in July is Rs. 6/Km). The service is targeted towards people commuting on the same route often:
The company has been co-founded by Akhil Singh and Pranay Agarwal and is a team of 8 as of now. Cubito's vision is to change the way India travels in public transport mode. Aware of the challenges, Akhil says, "We understand that this isn't an easy problem to solve. The way to do that is to learn constantly - from previous and existing attempts." Cubito also has the green card going their way as the service when it gains sufficient reaction can lead to a reduction in pollution and traffic of the city.
There are lots of variables to solve and a good technology base will be a must to scale this business. The youngsters have started out well and have managed to make it work to an extent in Goa. Launching in public now, the real test for Cubito will be Bangalore. Stay tuned to keep track of how the service is shaping up.
Sign up for Cubito on their website.