HongKong-based Swastika Co Ltd has invested $1 Million in seed funding to Indore-based InstaCar, a marketplace for outstation taxi rental. This is First time when Central India based company got funding directly from abroad i.e. MP got its FDI investment in technology startup.
InstaCar has started its operation in August this year which provide outstation taxi, It has more then 500 Cars in Madhya Pradesh itself. The interesting or I would say attracting thing for customer is that it only charges one way fare from the customers, regular taxi drivers charges both side for outstation journey.
Lets Talk about the Founders - InstaCar Technologies Pvt Ltd was founded by Vyas, Anurag Gupta and Priyanshi Choubey. They are serial entrepreneurs as previously they have started company called - Aspricot. Anurag is from IIM Kolkata and runs a chain of unisex salons - Shear Genius.
The interesting feature or I would say their USP is to provide car of customers choice along with required accessories during journey like on-the-go snacks, water bottles, tissue papers to ensure customer satisfaction station .Car rental sector is highly unorganized which need serious attention to standardize and InstaCar is one of them to start with.
Madhya Pradesh Got a Startup Boost
Most of the funding news comes from Bangalore, Mumbai, Hyderabad, Delhi, Pune however first time there is Huge Investment from HongKong in Indore based startup which has really boosted confidence of people of Mp and other parts of central India. Today Indore has 100s of small companies however most of them are starving for funding, still Indore has managed to be top destination for investors, founders to test their idea and get it successfully executed in MP.
Team eKhaliyan Wishes all the best to InstaCar team.
