Thursday, August 1, 2013
LA Investor Backs Mobile App Developer Helping Taxis Fight Startups
There's been a lot of back and forth in the past few months between ridesharing and transportation startups like Uber, Lyft, and Sidecar, and local taxi companies--who are not happy at all that those companies are moving in on their turf. To help those taxi companies, a Los Angeles investor--Craton Equity Partners--has backed a mobile app developer called Flywheel, which is helping taxi companies arm themselves for the fight against those startups.
San Francisco-based Flywheel said this week that it has raised $14.8M in a Series B funding round, which came from LA's Craton Equity Partners, and also included Rockport Capital and Shasta Ventures, to help fund its mobile apps. Flywheel's mobile app allows mobile users to hail a tax, and pay for a ride, all from their smartphone. The app runs on both iOS and Android. Flywheel does not yet offer its app anywhere in Southern California, and does not serve Los Angeles, where taxi cab drivers have been loudly protesting the move of Lyft, Uber, and Sidecar into this market.More information »