The presence of Meru
Meru Cabs is a ride-hailing service founded in India. The company was founded in 2006 by Neeraj Gupta and is based in Mumbai. Meru changed the way people traveled in cabs by providing AC vehicles at their doorstep with just one phone call. This dates back to the days when Mumbai’s streets were dominated by Kaali-peeli taxis. Meru is also known for being one of the first Indian companies to add electric vehicles to its fleet. It offers people and corporate entities in 24 cities across India app-based transportation services such as city rides, city rentals, airport transfers, and outstation trips.
How was Meru established?
The journey of Meru began with the establishment of V-Link Group in 2000 by Mr. Neeraj Gupta. V-Link Fleet Solutions began as a staff transportation company but has since grown to serve a number of the BPO industry’s top blue-chip clients. V-Link grew from a fleet of 300 vehicles to 1300 vehicles in four years.
The Maharashtra government issued a tender in August 2006 for the operation of a fleet of 10,000 air-conditioned, GPS-linked, electronic metered taxis in Mumbai, to replace the conventional black-yellow cabs. V-Link and India Value Fund (IVF), a venture capital firm, formed Meru at this time. Meru was founded in Mumbai with an initial capital of INR 500 million, offering AC cabs for the first time in India, with electronic meters and GPS/GPRS system cabs via a phone booking system.
Meru quickly expanded its services to the top four cities in India, with a fleet of 5000 cabs by 2010. Customers may book cabs online using Web Browsers or Mobile Apps, thanks to new technology and an expansion of services. Meru was later named one of India’s Top Emerging Brands, and its mobile app was named one of the country’s Top E-Commerce Apps. Meru served most of India’s metros, Tier-2 and Tier-3 cities, including Mumbai, Delhi, Hyderabad, Bangalore, Jaipur, Ahmedabad, Chennai, Vadodara, Surat, Pune, and Kolkata, by 2015, with a fleet of 9000 cabs.
Meanwhile, Meru formed a partnership with India’s five major airports and became their official cab service provider. Meru’s service options had grown to include city and airport trips, as well as city rentals and outstation travel by 2018. In Hyderabad, Meru has partnered with Mahindra Electric to provide sustainable transportation.
Meru Cabs increased its product options and added electric vehicles to its fleet after Mahindra & Mahindra purchased a 55 percent stake in the company in 2019. Meru ran a pilot project in Mumbai and Delhi with 200 electric cars. By 2020, Meru had grown to become the second-largest ride-hailing service with electric vehicles (EV) in its fleet, establishing itself as an EV-led Tech Mobility Company providing end-to-end transportation solutions for personal and corporate travel.
Meru’s path was hastened by an early investment from True North (previously known as Indian Value Fund Advisors) in 2006. Mahindra and Mahindra now own the bulk of the company, which continues to provide a wide range of mobility services to consumers and businesses across India.
Neeraj Gupta, CEO
He is a serial entrepreneur who is very driven and enthusiastic. He’s an expert in fast-growing enterprises and start-ups. Neeraj is well experienced in the service industry with a strong understanding of consumer behavior and expectations. Quality, technology, and creating companies around systems and procedures are all his priorities. He believes in mentoring others and establishing ethical businesses. He is the Chairman of the Taxi Working Group in India and a member of the UITP’s Indian Board.