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New cab hailing service coming in Hyderabad

Hyderabad-based start-up Venkata Praneeth Technologies is launching cab-hailing services under Prydo brand in the city.

The company has completed the on-boarding process of over 14,000 driver-partners and the services will formally commence from September 29, founder and managing director Narendra Kumar Kamaraju said on Thursday.

The business model of ‘Prydo’ ensures surge-free rides for customers and empowers driver-partners with a slew of welfare measures. The services will be available in three categories – hatchback, sedan and SUV. Prydo mobile application is available on Android Play Store and iOS App Store, according to a release.

In the next six months, the company plans to take Prydo services to Delhi and Bengaluru. The company plans to invest ₹ 100 crore during the next 12 months on national expansion. The release said Prydo will charge a commission in the range of 0-10% from driver-partners depending on the number of rides per month. Prydo will compensate the driver-partner for the distance covered from long-distance drop location to the geo-fencing area, it is earmarking, to make up for the loss incurred by the driver-partners.

For customers, the features include ‘Assured Rides’ in which the user is assured of a cab for a set period of time in advance at pre-decided timings.

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