Taxi’na, a tech-driven mobility solutions startup, has raised ₹1.5 crore in a fresh funding round from Navyug Global Ventures at a valuation of ₹50 crore on the reality show, Startup Singam.
The fresh funds raised will be used to scale its unique, sustainable ride-hailing model, creating a level playing field for both drivers and passengers while empowering happy micro-entrepreneurs in the sector.
Pinku Bharathi, Co-Founder & MD of Taxi’na, said, “The ride-hailing industry in India is at a crucial turning point, and a sustainable ecosystem is now essential. By addressing the issues faced by drivers, who are the backbone of the industry, we ensure that passengers enjoy a superior and safe ride-hailing experience. When drivers are financially secure and stress-free, they’re able to provide quality service, and when passengers feel respected and well-informed, they’re more likely to be satisfied. This mutual respect is at the heart of the Taxi’na experience, ensuring that both drivers and passengers are happy and engaged throughout every ride. With our subscription-based model, drivers no longer have to worry about fluctuating commissions, but instead can focus on boosting their earnings and providing exceptional service. This empowerment is key to creating a thriving ecosystem for everyone.”
“We are thrilled to partner with Nikhil Chandan’s Navyug Global Ventures. We see them as a strategic ally, bringing invaluable expertise and resources that will enable us to expand this ecosystem across India and beyond. Together, we aim to harness the entrepreneurial spirit of our drivers, provide them with the opportunities they need and create a seamless, fair, and sustainable ride-hailing model.” he concluded.
Nikhil Chandan MD & CEO of Navyug Global Ventures, said, “Taxi’na has developed a sustainable model consisting of a ride-hailing app and a supportive ecosystem. This model achieves fairness among all drivers by eliminating commissions and targets, focusing on delivering transparent pricing, nurturing healthy competition among drivers, and safeguarding end-user interests. We have witnessed remarkable achievements by the Taxi’na team, and we are confident that the leadership of Pinku, Vel Murugan, Bharath, and Subha will address the tech and digital divide in the sector, creating an even more efficient and user-friendly experience for everyone involved.”
Founded in 2022 by Pinku Bharathi, Taxi’na offers a ride-hailing ecosystem with its zero-commission approach. Unlike conventional platforms that take a percentage of driver earnings, Taxi’na allows drivers to keep 100% of their fare. Instead of commissions, drivers pay a fixed monthly subscription fee, providing them unlimited access to the platform’s technology and services.
The company claims to be the only ride-hailing platform with an LOI (Letter of Intent) to operate auto services in Chennai.
Currently, Taxi’na has over 45,000 drivers and 75,000 passengers across Chennai, Salem, Tiruppur, Erode, and Coimbatore.
