Germany-based online taxi ordering application MyTaxi secured €10m ($13m) in series B funding on Monday, with Car2Go, an urban mobility subsidiary of automotive corporation Daimler, and Deutsche Telekom’s corporate venturing unit, T-Venture, among the backers.
The size of the stake acquired by Car2Go is reportedly 15%, while KfW Bankengruppe, a development bank part-owned by the German government, and investment firm Cinco Capital also participated. Investment firm E42 is a prior investor.
Founded in 2009, MyTaxi runs a mobile application-based taxi ordering service which operates without central dispatching services meaning drivers can work independently without adhering to a centre’s rigid work structures. T-Venture has been a backer since MyTaxi’s September 2010 seed round.
MyTaxi claims to be a market leader in more than 30 cities across Germany, Austria and Switzerland, and is now aiming to use the latest round of capital to expand into England, Spain and the Netherlands.
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