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Accel Partners backs Series C round for India taxi booking site

22 Aug 2014

taxi-driver-757997-mVenture Capital firm Accel Partners has led a Series C funding round for Indian online cab booking company TaxiForSure.com.

The amount Accel laid down was not disclosed although TaxiForSure hinted it was within the firm’s typical $35m to $50m bracket of investment for companies at this stage.

The cab business said the cash will be used to hire new staff and expand the company’s operations in existing cities and new cities.

TaxiForSure closed its $10m Series B funding round four months ago, with investors including Bessemer Venture Partners and Helion Ventures.

Accel Partners which has offices in California, London and India, participated in a $1m funding round for Singapore and Bangalore based tea startup Teabox together with Horizen Venture in March this year.

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