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YourNest Angel Fund and Mumbai Angels Invest in Bookmycab.com

YourNest Angel Fund and Mumbai Angels decided to invest in Bookmycab.com. This investment just means that the market for cab renting is on the rise. Major cities in India definitely needs quality cab service and this is just what Bookmycab.com would provide especially with these new investment that they got from Fund companies.

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Mumbai Angels

The investment done by YourNest Angel Fund which is a domestic venture capital fund company and Mumbai Angel, a city-based angel network was completed earlier in July. The stake that the two companies had bought is about 25% and 35% with duration of up to 6 years.

Bookmycab.com is definitely becoming a major company in the country and a stable one since YourNest is only investing in businesses with high net-worth. The investment that was raised from YourNest would be the first round of institutional funding raised by Bookmycab.com. The latter will be using the funds in order to increase their number of vehicles which currently stands at 1,900.

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