bangalore cab service taxiforsure will drop fares from saturday to a level that will turn the heat on not just rivals but also autorickshaws the new base fare will be rs 49 for 4 km in all cities it serves down from rs 200 for 10 km for an ac hatchback car after 4 km the rate will be rs 14 a km this rate makes it cheaper than an auto for 4km commutes in bangalore and chennai and just a little more than an auto in delhi pune and hyderabad in mumbai the company is having a dry run and plans to formally launch the service next week in bangalore even for a 10km trip taxiforsure will cost about the same as an auto in other cities it will be a little bit higher the closest competitor ola has a minimum fare of rs 100 for the first 6 km in bangalore first 5 km in chennai and first 4 km in delhi beyond that it charges rs 10 a km a constant feedback we got from customers was that they use cabs for long distances and autorickshaws for short distances now that we have lots of cabs in each city we are able to offer short distance trips too raghunandhan g cofounder of taxiforsure told toi in bangalore for instance it now has about 100 cabs per sq km earlier a cab had to travel some 4 km to get to a customer and thats a waste if the subsequent commute is only for 3 or 4 km now it has to travel for less than 2 km to get to a customer and the average waiting time for a customer would be less than 10 minutes said raghunandhan who founded the company in 2011 with longtime friend aprameya radhakrishna it has raised 50 million in funding from vc firms accel partners helion ventures and others the cab market has seen fierce competition in recent times and the most aggressive so far have been ola and googlebacked uber analysts said ola which has just received fresh funding of 210 million from japanese internet company softbank would surely respond to the latest challenge from taxiforsure the economics may justify that raghunandhan said the total cost of running a cab including fuel and wear tear was only rs 35 per km the rest is the driver salary and the operators commission the entire market is seeing huge growth he said and that might now accelerate if commuters who have generally felt harassed by autorickshaw drivers turn to ac cabs for short distances by shilpa phadnis sujit john tnn published on nov 1 2014 at 1258 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for