:City-based Ride Easy Technologies on Monday announced the launch of its online cab aggregator service.
Union Minister of State for Home G Kishan Reddy formally inaugurated the service.
Ride Easy Technologies CMD Rajashekar Reddy told reporters that the company has over 4,200 drivers onboard in the city and expects to have around 50,000 drivers in about a year.
He said customers would only be charged fixed price round-the-clock.
Going further, the company would launch similar service in Vijayawada, Vishakhapatnam and Tirupati of Andhra Pradesh soon besides expanding operations in other states, including Kerala, in the coming months, he said.
The company has mobilised Rs 100 crore from internal sources and the amount would be invested over the next one year, he said.
Drivers using their app can chose from two options - commission or subscription model, Reddy said adding that the driver's commission is 15 per cent while under subscription model they have to pay a daily fee depending on the vehicle with unlimited rides.