In 21st century Indian commuters have seen Radio-Cab companies grow, some building a Pan-India brand and others capturing local markets. While everyone was betting on cabs, Autowale started romancing Rickshaws in Pune and launched Radio-Auto in 2011.
In 21st century Indian commuters have seen Radio-Cab companies grow, some building a Pan-India brand and others capturing local markets. While everyone was betting on cabs, Autowale started romancing Rickshaws in Pune and launched Radio-Auto in 2011. Today Autowale stand as a leading Radio-Auto company in India, having connected 100,000+ customers with 1000+ drivers in Pune. Company also validated the idea with 10,000+ customers and 200+ drivers in B'lore during pilot in 2013.
"With a quick call or tap on an app, Autowale sends a driver to your location for pickup. At a cost that’s 25% to 50% less than a cab, it’s Uber for the common man" quoted Forbes
"The company promises drivers higher and more predictable income, along with fewer dead miles, those without a passenger on board. In return, the company receives a commission of 10 to 15 percent from the drivers. Autowale, which isn’t profitable yet, reported revenues of about $335,000 last year." reported New York Times.
Sharing few important milestones from Autowale journey in comparison to big Indian Cab Aggregators:
- Last Christmas (Dec 2014) Autowale completed 0.5 Million Rides (in Pune). Around same time Taxiforsure celebrated 3 Million Rides (in 30 cities).
- By end of 2014 Autowale had more than 0.1 Million customers (in Pune) compared to 2 Million customer for Ola (in 50 cities).
- Autowale is chasing Million Dollar revenue (in Pune), compared to 2 Billion Dollar revenue for Uber (in 200 Cities).
Other milestones:
There were more than 4.3 million registered autos in India in 2012, compared with 2 million registered taxis, which tilts the economies of scale in favour of the three-wheeled vehicle. Indian rickshaw market stands at USD 10+ Billion (much bigger than the size of Radio-Cab Market in India) waiting for entrepreneurs to organize. India moves on auto-rickshaw, and Autowale is aiming to be Pan-India leader in this space.
Autowale is aiming to serve Billions of trips using Rickshaws, by 2020. "Millionaires earn wealth, but Billionaires create wealth", that's our DNA at Autowale, we empower our drivers to earn more (50-100% more daily) and customers to save more (time and money) while building a good multiple for Investors (both existing and future).
One of Autowale drivers shared his story on camera:
Please join us for this three-wheeled journey.
Happy Investing,
Team Autowale
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