This Man's Passion for Bikes Has Given India its First Bike Taxi Service
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Arunabh Madhur’s passion for bikes and urge to address the problem of last mile connectivity helped him launch M-TAXI.
M-TAXI as a startup brings its technology platform with its on-ground fleet to provide last mile connectivity from busy commuter intersection to their destinations. The startup has designed a customized technical platform that aggregates demand and calculates fare for the ride.
Birth of M-TAXI
“M-TAXI was conceived in response to the growing challenges commuters face with public transport, particularly last-mile connectivity and traffic jams. The public transport options available with larger vehicles are ineffective in slow-moving traffic and are also expensive,” said Madhur.
Given this scenario, M-TAXI offers an on-demand app based and hailing 2-Wheeler taxi service for commuters across the board, which is quick, convenient and economical.
With the aim to make life more liveable of urbanites, startup helps commuters reach their destinations quicker and in a safe manner.
M-TAXI works on partner business model. “Our partners are our riders who are also our brand extensions and ambassadors. We work on transparency with our consumer and our partner. With Partners its commission model and to the consumer we charge a flat Rs. 20 for first 2 kms and Rs.5 per additional km. Our rates are mentioned on our taxis and also in our app to avoid any ambiguity,” said Madhur.
Currently, startup is operational in Gurgaon and it is gearing-up to expand operations to other location.
Focusing on Safety & Hygiene of Customers
A strong focus is on safety and hygiene, which is an imperative when commuters across age groups, are travelling alone. To put this in order, all riders go through background verification and are trained on behavioral and efficiency aspects, and also on hygiene and safety. Commuters are assured of riding with a uniformed rider and are provided with a hair cap, helmet, and wet wipe for an optimal conveyance experience.
“We are a socially responsible business, providing part and full-time employment opportunities as riders/ pilots to both men and women, helping them earn a livelihood while engaging in a service that helps commuters reach their destinations quicker and in a safe manner,” said Proud Founder.
Funds Rolling In
The Company headquartered in Gurgaon has received an initial round of Angel funding from private investors led by Mandeep Singh and Jairaj Singh. Venture will focus on providing efficient, safe and hygienic last mile connectivity to commuters through a 2-Wheeler taxi services.
“What attracted the investors was the need of this kind of service coupled with a solution that addresses the growing pain of traffic jams everyday in which people are stuck for hours at end. The funding so far has been used for meeting operating expenses and establishing the brand in the market,” said Madhur.
Having about 10,000 unique customer base which is growing tremendously, currently the venture is run by a single founder. “As for the future we do plan to scale-up our demand as well as our supply to 300 bike taxis in next 2 months. Going forward we will introduce bike taxi service by women as well. We are working on introducing various business models in the market which will not only benefit the customers but also our riders/pilots who are integral stakeholders in the Company,” explained Madhur.
With more and more players announcing their entry into on-demand services, the need for bike taxis as an alternative transport has been now legitimized. Currently, there are over a dozen or so players like Baxi, M-Taxi, Hey Taxi and many more who have come up in the last 3 months across the country in various cities. This is a reflection that there is a huge demand for such services across the country/cities where last mile connectivity comes with expensive price points and safety is an area of concern across population.