[Funding alert] Transport startup PiggyRide raises Rs 7.5 Cr from JAFCO Asia, angel investors
Bengaluru-based transport service for kids, PiggyRide has raised Rs 7.5 crore led by JAFCO Investment Asia Pacific, along with a clutch of angel investors, including InMobi’s Naveen Tewari; Livspace Co-founders Ramakant Sharma and Anuj Srivastava; Goldman Sachs' MD, Niladri Mukhopadhyay; Zipdial’s Amiya Pathak; and EzCred’s Sachin Maheshwari.
Manish Tewari, CEO, and Co-founder, PiggyRide, said,
“Our mission is to make the parents' life hassle-free with a simple, flexible and safe experience for their kids. Since our launch, we have been growing 100 percent every month, clocking in about 1,000 rides on average with about 27 rides per user. PiggyRide is glad to welcome a marquee set of investors who believe in the startup's mission and also continue to be invaluable customers.”
In a statement, PiggyRide said, all vehicles onboarded on its platform are installed with various technical devices that help track a kid’s location on a real-time basis, watch a video feed of the ride on-demand, and a lot more just through its app. The startup also ensures a 15-step verification process that includes a rigorous background check, and police verification of the drivers to onboard them, ensuring maximum security for the kids.
PiggyRide serves kids from more than 50 academies, schools, day-care centres, and coaching institutes. The company will launch its services in Delhi-NCR this month. In the next six months, the startup aims to touch 5,000 rides a day with a presence in three cities.
Going ahead, PiggyRide intends to become the one-stop platform for parents, who have kids in the age group of two to 18-year-old, to make their life less hectic.
PiggyRide is founded by Manish Tewari, an IIT-Varanasi alumnus, along with Rohan Kaushal, an IIT-Delhi alumnus. Manish previously co-founded Koovs and Pokkt. Rohan has over nine years of experience from working closely with Ola, Koovs, and many more.
“We are also building a local discovery platform for kid's activities through a trusted community of parents using our services, where they will be able to book the services, read other parents rating, reviews, etc.,” Rohan Kaushal, Co-founder, PiggyRide, said.
(Edited by Suman Singh)