Cubito, a Bangalore-based shared cab service provider, announced that it had raised up to INR1 crore from India based angel investors. A team of BITS Pilani Goa graduates, driven to make cab and general travelling services more affordable, wanted to transform the way Indians traveled by establishing Cubito. The cab service provider was co- founded by Pranay Agarwal and Akhil Singh.
Cubito provides its cab service at the cost comparable to that of the standard rate for public transportation, which is currently at INR6/km. It employs technology to cluster individuals who are travelling on the same route. The company said their company basically offers an organized cab pooling service.
The cab service provider said that their service has started out well and it has succeeded to make it work to various routes in Goa. The company is now examining the possiblities of expanding in Bangalore. Cubito had initially introduced its unique cab service in Bangalore for daily commuters who had to book weekly and monthly with them.
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