MGaadi
MGaadi's mission is to dramatically improve the quality of commuting in Indian cities while delivering a suite of livelihood.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
MGaadi, operating under the legal name India Drivers Network Services Pvt. Ltd., was a Bengaluru-based social enterprise focused on the urban mobility sector. Founded in 2012 by Solomon Prakash and Vishy Kuruganti, the company aimed to formalize and improve the auto-rickshaw hailing market in Indian cities. Prakash, a serial social entrepreneur with a background in founding organizations like Maya Organic and LabourNet, brought extensive experience in creating for-profit social ventures. Kuruganti, a technologist with leadership experience at companies such as Navteq, Yahoo, and Adobe, provided the technological expertise.
The company developed an app-based platform that connected commuters with a network of auto-rickshaw drivers. For commuters, the service offered a reliable way to book rides that adhered to official meter fares, addressing common issues like fare negotiation and destination refusal. Bookings could be made for immediate pickup or scheduled in advance via a mobile app, available on Android, iOS, and Windows, or through a call center. The platform included features like real-time tracking and customer ratings for drivers, ensuring service quality by retaining only the best-rated drivers in the network.
For drivers, MGaadi provided a steady stream of ride requests, which helped to reduce idle time and increase their daily income. The business model was structured around a dual revenue stream. Customers paid the standard meter fare plus a small pickup fee of Rs. 10 directly to the driver, while MGaadi charged drivers a referral fee of Rs. 5 to Rs. 10 per trip. Beyond ride-hailing, the company's mission included improving the livelihoods of drivers by offering access to financial support and social security services.
MGaadi secured a total of $574K in funding over three rounds from investors including Unitus Seed Fund and Capria. In June 2016, the company was acquired by the online travel portal Yatra.com. The acquisition involved integrating MGaadi's technology, including its employee transportation platform Cartr, into Yatra's product offerings.
Keywords: MGaadi, India Drivers Network, auto-rickshaw hailing, ride-hailing service, Bangalore, Solomon Prakash, Vishy Kuruganti, social enterprise, urban mobility, last-mile connectivity, mobile commerce, driver network, meter fare, transportation app, Unitus Seed Fund, Capria, Yatra acquisition, commuter service, local transport, Indian cities