ALSO READDIPP notifies 100 pct FDI in more financial services India services activity grows for first time in 4 months as demand slowly recovers-PMI India services activity grows for first time in 4 months as demand slowly recovers - PMI Jugnoo gets support from PM Modi through Twitter; launches 'Jugnoo Pay' Modi tweet helps Jugnoo launch UPI-enabled 'Jugnoo Pay'
Jugnoo, a hyper local startup, power-driven by its vast auto rickshaw network, today announced that the demand for its services doubled in Coimbatore. The announcement came soon after Uber suspended its auto rickshaw services in the city.
The aggregator had shut down their auto operations in the bustling cities of Coimbatore and Indore on Monday and Thursday respectively, following which Jugnoo's services witnessed this spike in demand. With Jugnoo's vast network and increasingly popular services across Tier II and Tier II cities, this was an expected trend for the brand.
Commenting on the development, Chinmay Agarwal Co-founder and COO Jugnoo said, "The market dynamics have been extremely convoluted over the last few months. We saw this coming but did not think it will come so soon. There have been so many reports of strikes, demonstrations and protests happening across the country over the past few months, led by the registered drivers of top cab aggregating companies that has affected the auto business as well. Our business model has always been focused on setting standardized pricing and incentivizing the drivers and therefore we have been successful in becoming a trusted player in the category."
Overall, the space is poised for growth. Jugnoo continues to invest in streamlining processes and consolidating the unorganized auto sector and is hopeful of growing the business over time.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)