TN-based Taxina Mobility raises Rs 1.5 crore from Navyug Global to boost sustainable ride-hailing model

CHENNAI: Ride-hailing startup Taxina Mobility Pvt Ltd has raised Rs 15 million (Rs 1.50 crore) from city-headquartered Navyug Global Ventures Pvt Ltd as it aims to create a level playing field for drivers and passengers and empower micro-entrepreneurs in the sector, the company said on Tuesday.

Taxina Mobility Pvt Ltd provides a subscription model under which the drivers need to focus on service and earn consistent income without the daily stress of unpredictable deductions.

The strategic investment would enable Taxina Mobility Pvt Ltd to develop its unique, sustainable ride-hailing model across India and globally. The company offers a franchise-like opportunity in which drivers pay a fixed monthly subscription fee that grants them unlimited access to the ecosystem and technology provided by Taxina Mobility.

"Taxina has developed a sustainable model consisting of a ride-hailing application 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," Navyug Global Ventures MD-CEO Nikhil Chandan said in a release here.

Taxina Mobility Pvt Ltd currently offers its services in Chennai, Salem, Tiruppur, Erode and Coimbatore. Taxina Mobility offers a fair, technology-driven, multi-modal transport ecosystem that benefits both drivers and passengers.

Navyug Global Ventures specialises in strategic venture capital firms that partner with visionary entrepreneurs building the businesses of the future.