Previously InstaCar had raised $1 million in seed funding from Hong Kong-based Swastika Co Ltd, within a year of its launch in 2016. Back then, the company had also claimed to have on-boarded 500 taxis in Madhya Pradesh, within two months of its launch.
InstaCar was one of the 10 companies shortlisted in Colorado-based Techstars’ second accelerator programme held in Bengaluru this year. David Cohen is one of the founding members of the Techstars, along with David Brown, Brad Feld and Jared Polis. The platform, which is said to be the largest accelerator in the world, was founded in 2006.
Cohen has also invested in companies like Chicago-based kid-class Pearachute, tech-news startup Built-In, ecommerce company The Cotery and financial media startup DailyWorth, among others.
Instacar, founded by Ishan Vyas and Priyanshi Chaubey in 2016, is a transportation startup that allows users to hail intercity taxi services. Knowing customer’s reservations about intercity cab rides, the company claims to give a special focus on user safety, reliability and quality of the car and service. It has also created a complete execution book for providing service with a 100% compliance with safety and reliability standards.
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