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Accel, Helion back Series A round for TaxiForSure

  • Susannah Birkwood
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Accel Partners, Helion Venture Partners and seed investor Blume Ventures have backed a Series A round of funding for India’s Serendipity Infolabs, which runs online taxi booking site Taxiforsure.com.

Anand Daniel of Accel and Ritesh Banglani of Helion will hold board seats at the company following the deal.

"We are backing TaxiForSure because they are tackling the next frontier in online travel by organizing a highly fragmented industry," said Banglani.

TaxiForSure was established by Raghunandan G, who previously worked for Jones Lang LaSalle in India, and Aprameya Radhakrishna, last June. An aggregator of Indian car rentals and taxis, it provides local taxis, airport transfers and luxury cars such as BMWs, Limousines and Jaguars.

The company is planning to expand beyond Bangalore, where it is currently based, to offer services in the cities of Chennai, Mumbai, Delhi, Pune, Hyderabad and Kolkata.

"Our previous investments in Makemytrip and Redbus have shown us the tremendous potential of the online travel industry," added Banglani. Makemytrip is often lauded among Indian VC professionals as a positive example of the profits to be made in the local e-commerce sector. The online travel company debuted on the Nasdaq last year, raising $70 million through its IPO. Helion held an 11.97% stake.

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