Investors are suddenly bullish about the taxi sector in last 3-5 years. Big money is flowing in new-age technology firms which are building technology platforms to connect drivers with the commuters using mobile app. The information about the vehicle, driver and fare is shared with the commuters in real time.
As per the current estimate, there has been an investment of US$2.9 - 3.0 billion in this sector. Some of the companies did not disclose their funding in the public domain. Interestingly, the funds are being used for the development of mobile or web application, not for buying new vehicles. Thus, the investment is much higher in real sense as these companies are also pushing investment in new vehicles (taxis).
Valoriser has tried to identify the top players in the industry. Also, it is important to see the funds raised by different companies across different countries. This clearly highlight that this is a global trend.
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