Hello Cabs raise high seven-digit in­vest­ment from iMyan­mar Group founder

Mizzima Business Weekly - - BUSINESS ALERTS -

Yan­gon-based ride hail­ing app has raised a high seven-digit in­vest­ment (US$) from iMyan­mar Group founder Nay Min Thu, re­ported the Deal Street Asia.

Hello Cabs is the first on-de­mand me­tered taxi ser­vice in Yan­gon. It be­gan oper­a­tions in 2014 with a US$1 mil­lion ini­tial in­vest­ment by Yaung Ni Oo Co Ltd, Strate­gic Devel­op­ment In­ter­na­tional (SDI) Hold­ings Co Ltd, and Sin­ga­pore-based GAP VC.

In March, Sin­ga­pore-based ride-hail­ing plat­form Grab launched its GrabTaxi ser­vice in Yan­gon.

Sin­ga­pore’s GAP VC is hold­ing less than 25% stake in Hello Cabs cur­rently.

Hello Cabs cur­rently op­er­ates about 1,000 reg­is­tered cabs.

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