NEW DELHI: SoCoMo Technologies, which owns and operates auto rickshaw aggregator platform Jugnoo, has launched its rickshaw ride pooling service, Jugnoo Pool, the Chandigarh-headquartered company announced on 3rd June 2016.
The announcement came on the same day as ride-hailing app Uber , also the world’s most richly valued venture, said it was expanding its carpooling service, UberPOOL, to three more Indian cities – Hyderabad, Kolkata and Mumbai.
UberPOOL, which was launched in India about six months back, is currently available in Delhi and Bengaluru.
Uber’s rival, ANI Technologies, which operates online taxi aggregator platform Ola, also has a similar product – Ola Share.
Jugnoo Pool will be launched across all locations in India, where the company operates, according to the press statement.
“The pooling feature will further enhance the utility of our service by giving the commuters an additional option of making their rides even more economical and yet enjoying the convenience of hailing the auto-rickshaw ride from their doorstep,” said Samar Singla , Chief Executive, Jugnoo.
Jugnoo currently plies its service in 35 cities across the country, according to company officials, and has about 12,000 autos empanelled under the brand.
“We believe it (pooling) is the most efficient way to use existing resources through integration of technology. Auto-rickshaws are already the most popular mode of daily conveyance for covering local distances in India. With Jugnoo, we give our riders the advantage of using this mode in a more convenient and economical manner,” said Singla.
While an increasingly acceptable form of transportation in the west, ride-sharing is still a new concept in India.
According to media reports, Uber sees over 1 lakh people opting for pooled trips weekly, and across 11 cities, including New York, Los Angeles, Beijing, Chengdu, and Shanghai. In China, the number of UberPOOL trips has grown to over 30 million per month.
According to the Jugnoo-issued press release, customers opting for pooled auto rickshaw rides, are eligible for a 20% discount on the fare. Additionally, the auto rickshaw driver will be able to earn almost 1.5 times more, within the same time, through a Jugnoo Pool booking.
“The idea is to offer commuters with a much better user experience at almost the same fare as that of a public bus,” Singla said.
Founded in 2014 by Singla and Chinmay Agarwal, Jugnoo was reported to have raised $10 million in an extended Series B round, at its existing valuation, a significant portion of which, was pumped in by its existing investors, including One97 Communications, the parent company of digital payments and services platform, Paytm and Snow Leopard Technology Ventures.
It also brought in early-stage venture capital firm Rocketship .vc as a new investor in the round.
However, this was preceded by media reports, which quoted Jugnoo Founder Singla as stating that the company was looking to raise $30 million in a Series C round, and which was expected to close in January.
Source: Economic Times
