December 06, 2018
JOHNS CREEK, Ga., Dec. 06, 2018 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ : EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that one of its India-based EbixCash subsidiaries has acquired a 70 percent stake in AHA Taxis, a platform for on-demand inter-city cabs in India. AHA focuses its attention on Corporate and Consumer inter-city travel primarily, with a network of more than 15,000 registered AHA Taxis.
AHA has pioneered an offering of one-way fare for hiring taxis for outstation trips, whereas the trade norm used to be to charge the return fare. AHA solved this problem while engaging its proprietary technology, algorithm and network.
Founded by first generation entrepreneurs Amit Grover, Kunal Krishna and Shivam Mishra, who bring a solid blend of experience and youth to EbixCash, with hands on execution expertise in technology, operations and marketing; the Company today has a network spread across 4,000+ cities, having served 20,000+ routes and 15+ million kilometers of travel as of now.
Build on cutting edge technology that is served over the cloud to all its constituents, the AHA Taxis service is available at finger tips to consumers and corporates across the country. With features like number masking, live tracking, open APIs, multiple payment gateways, the AHA Taxis solution is available over any mobile device in an App form or over the internet in a matter of minutes wherever you are in India.
The AHA Taxis service is considered one of the most efficient and cost effective one-way inter-city travel options in India today, as the Company at any time has a massive registered network of cars who have just finished a one-way travel to a city from their home base location and are looking for passengers, to return back to their home city wanting to avoid going back without a passenger; and are thus willing to price the trip aggressively.
With partners like PayTM, Makemytrip, Yatra, Via, RailYatri, Zomato, Mobikwik, Savaari and Ticketgoose.com, AHA Taxis has built an impressive customer retention rate of approximately 30% and one of the lowest customer acquisition costs in the industry at 5% of its revenues. The AHA Taxis App is available on Android Google play and Apple devices both, besides being accessible on the web at www.ahataxis.com
With an inter-city market opportunity that is presently estimated at $10 Billion, and growing at 20% annually, AHA Taxis has focused its attention on this focused inter-city market segment. With a population of 1.3 billion people, an estimated 90% of the cab trips are booked one-way with two-way trips accounting for only 10% of the cab trips. AHA has focused its attention on this section through a blend of partnerships with OTAs, online and offline travel agents, Corporates, and the B2C Direct channel.
Ebix Chairman, President and CEO Robin Raina said “AHA Taxis provides our Via and Mercury travel brands with another in-house tool to cross-sell cab services to our Corporates, B2C clients and OTA clients. We were already using AHA as one of the outside vendors to whom we would handover inter-city cab travel, because of the efficiency and pricing provided by AHA. Our 260,000+ strong franchise network will now be able to not only sell cab travel as an integral tool through online cloud based technology, but also be able to register new car drivers to the AHA network across the country and convert AHA into one of the largest inter-city cab networks in the country.”
AHA Co-Founder Amit Grover said, “We have been a startup till now that has grown approximately 100 times since January 2015. We grew AHA on minimal seed capital and became break-even in 2018. We needed the physical and digital client & franchisee expanse of a massive network like EbixCash to substantially grow our business. We are quite excited by the growth opportunities ahead of us.”
AHA Co-Founder Kunal Krishna said, “Our domain knowledge and technology has helped us solve the several decades problem plaguing the taxi travel space in the country. With Ebix, we intend to take AHA offerings to every Tier 2, Tier 3 city in the country and help millions of people save money on their travel. AHA technology does not only solve the problem for India, and in-fact can also be extended to other South Asian countries.”
AHA Co-Founder Shivam Mishra said, “AHA has been positively changing the dynamics of outstation taxi market in India. We are set out with a mission of ‘Anywhere to anywhere one-way out-station taxi’, and we are ecstatic that Ebix would be helping us achieve our mission, and change the way people travel in the country.”
Prosight Partners advised AHA Taxis on this transaction. Ebix did not use any Investment Bankers.
About Ebix and EbixCash
With 50+ offices across 5 continents, Ebix, Inc., (NASDAQ:EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, the Company’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service (“SaaS”) enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administrative and risk compliance, across the world.
With a ‘Phygital’ strategy that combines 260,000 physical distribution outlets in many Southeast Asian Nations (ASEAN) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, Forex, travel, pre-paid & gift cards, utility payments, lending etc., in an emerging country like India. The Company’s Forex Exchange has an approximate 70% market share of India’s airport Foreign Exchange business encompassing 25 international airports like Delhi, Mumbai, Bangalore, Chennai and Kolkata International airports, while conducting over 1 million transactions per annum. EbixCash, through its travel portal Via.com, is also one of Southeast Asia’s leading travel exchanges with over 110,000 distribution outlets and 8,000 corporate clients processing over 24.5 million transactions every year. For further details, visit www.ebixcash.com
Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com
From Kunal Krishna’s Facebook Post :
“If you want to go fast, go alone. If you want to go far, go together.” — Steve Jobs
Quite pleased to share that AHA Taxis has been acquired by Ebix, Inc. (NASDAQ: EBIX). Last 4 years have been an incredible journey for AHA Taxis with my partners – Amit and Shivam . We had a great time and enjoyed it together, and happy that we would still continue to rock it with Ebix.
There have been lot of contributors who have helped me shape up into this startup world, and cannot go without mentioning Abhijeet – thanks for that AB. Arvind bestowed me with opportunities to work with best of the startups, unicorns in Silicon Valley at Copper. This was me getting ready for my AHA journey.
AHA has been a journey of life, with so many learning, misses, blunders, negotiations – be it with new hires, employees or investors, policy making, building product for the masses, rollbacks, near divorces (off-course with my employees), perseverance, and seeing an acquisition to a NASDAQ listed over $2 billion enterprise, all-in-all it was worth every penny, every sleepless night, every fight and whateva…. !!!
The post would not be complete without thanking all those individuals who rallied behind us during our infant days, and backed us by putting their buck on us – Dheeraj Mohit Abhinav Rohan Sandeep Kartik Abhijeet Harshad Sushanto Dhruv Amiet, Sunny and other angel investors.
Thanks Robin, a great entrepreneur with a great vision, for seeing the value that we have created over the past 4 years and the pain we are solving in the out-station taxi travel space in the country. Your vision of building sustainable businesses completely assimilates with the DNA of AHA Taxis. We are fully geared to scale new heights with Ebix. Can’t miss Sumit, for all the guidance and support, and longer discussion meetings, with black coffee and patties ☺
Thanks to all the partners who have been there to support us in our journey from 2 bookings a month to few thousands bookings a day. Love, respect and gratitude!!!
AHA journey continues with the same team, driver network, vendor network, partner network and bound to unbelievable growth with Ebix network across India and 51 other countries.
Welcome AHA 2.0 … !!!
Co-Founders : Amit Grover, Kumar Arayan, Praveen Samariya, Kunal Krishna, Shivam Mishra
Download the app –
AHA Taxis is a leading online outstation taxi company for booking outstation taxis across different cities in India.we are now providing outstation taxis service in more than 4000 cities across India. What makes us different from other taxi service company is our competitive price and availability.
Unlike other taxi services who charge return trip fare for one-way trips, we only charge one-way fares. ‘No return trip fare for one-way trips‘ is what we believe in and our vision is to make outstation Taxis booking affordable and available for one and all.
Amit Grover – CEO – Linkedin
Amit Grover is co-founder of AHA Taxis.com, India’s largest online car rental booking service for outstation taxis offering one way fares in India. He was earlier CEO and Founder of Nurture Talent Academy – India’s 1st institute for entrepreneurs. He is an IIT Delhi and IIM Indore graduate. He has worked with Infosys, Asian Paints, Onida and Mumbai Angels earlier. Nurture Talent conducted over 425+ workshops, across 125+ cities attended by 30000+ students, professionals and startups.
“Nurture Talent conducted over 425+ workshops, across 125+ cities attended by 30000+ students, professionals and startups.”
Amit used to actively blog during his Nurture Talent start-up phase at Amit Grover
6th November, 2017
“Three years ago, we set out to provide affordable and available outstation taxis. Our solution caters to thousands of customers and drivers every day. Our investors’ confidence in us, despite the presence of biggies like Ola and Uber, is a big positive”, Grover said.
AHA Taxis, which counts Vikas Taneja of Games247 as an adviser, claims to help users save 40-50% on outstation taxis in over 350 cities across India.
In November 2015, the company had raised an undisclosed round of angel funding from ah! Ventures.
“Since ah! Ventures’ seed round investment in AHA Taxi, the company has grown over 10 times to 1,000 cities and 10,000 routes. Despite the immense competition from Ola and Uber, AHA Taxi has created its own space, maintained set standards and provided satisfaction to customers”, said Harshad Lahoti, founding partner and CEO of ah! Ventures.
July 1, 2016
The online taxi aggregator space is a highly competitive one, but AHA Taxis which specializes in outstation travel is stepping on the gas. AHA has expanded to 20 more cities in India, taking its total tally to 350 cities. To discuss more about the same, Deeepanshu Bhandari of Bloomberg TV India is joined by Amit Grover, CEO & Co-Founder of AHA Taxis.
June 29, 2016
Online intercity cab aggregator AHA Taxis has expanded to 20 cities and towns including Mumbai, Pune and Shirdi in Maharashtra; Jaipur, Pushkar and Alwar in Rajasthan; Bhopal, Indore and Ujjain in Madhya Pradesh; Hyderabad, Tirupati, Srisailam, Vizag and Vijayawada in Andhra Pradesh; and Bangalore, Ooty, Mangalore, Coorg and Mysore in Karnataka
December 2, 2015
Road travel in India is five times bigger than railways and business is divided among bus and taxi service providers. And imagine trains carry 7 billion passengers annually. That means buses and taxis carry about 35 billion passengers annually. That is easily possible as the total just means about 40-45 trips per person per year.
The intercity taxi market in India is estimated to be over $9 billion (about Rs 60,000 crore), with an annual growth of 15-18%. More than 90% of this market is unorganised.
Amit Grover, co-founder of AHA Taxis, which recently got angel funding, was also motivated by his personal experience when he was charged double fare for one-way travel from Bhopal to Delhi.
Launched earlier this year, AHA Taxis has expanded to more than 100 cities in India including Moradabad, Bareilly and Bijnor in Uttar Pradesh along with Delhi, Jaipur, Agra, Chandigarh, and Dehradun.
With customers comfortable with paying one-way taxi fare, such taxis often get return booking even before they touch their destination. “The total fare for family or group intercity travellers is similar to hiring a one-way taxi,” said Parikh. NV Subbarao, a member of Hyderabad Angel and one of the angel investor in AHA Taxis said, “At present it is a wide, open market. One-way travel fare for sure is a big disruption in the intercity travel market.”
A clutch of startups have sprung up to address the issue of taxi service providers charging double the fare for one-way travel. Jaipur-based Hippocabs, Ahmedabad-based Yatayat and recently funded Noida-based AHA Taxis are three of such intercity taxi aggregators that have come up in the past six months.
Aha Taxis helps you save cost on outstation travel by charging for actual KMs traveled.
Traditionally in Indian road travel, the taxi owners charge a return fare from customers even for one way trips, as they are not assured of passengers on return journey.
We are aggregating demand and supply using website, mobile app and call center to make it a win-win situation for all stakeholders – taxi owners, customers, society and environment.
You can chose from 3 categories based on your budget and comfort – AHA Economy (Indica AC or equivalent), AHA Business (Swift Dzire AC or equivalent), AHA Premium (Toyota Innova AC or equivalent).”
19th November 2015
AHA Taxis was founded in April 2015 by Amit Grover (ex-Infosys, Asian Paints, Onida, IIT-IIM alumnus), along with Praveen Samariya (ex-Times Internet, IIT alumnus), Kunal Krishna (ex-Headstrong, Copper Mobile), Kumar Arayan (ex-Swiggy, Askmebazar, NIIT) and Shivam Mishra (ex-Crazzy, college dropout).
A division of WAAH Taxis Pvt Ltd, AHA Taxis helps travellers save cost on outstation travel by charging only for actual KMs travelled. Traditionally in Indian road travel, the taxi owners charge a return fare from customers even for one way trips, as they are not assured of passengers on return journey.