World Moto has recently received an unprecedented number of inquiries from interested parties throughout India as media coverage of this new opportunity has inspired a burgeoning excitement among Indian entrepreneurs, investors and operators. As an example, Baxi, one of the initial operators in Haryana, has already raised $1.5 million in seed money and received commitments from investors of more than $15 million. Baxi has announced they plan to raise around $30 million in the next round of financing. Operators who have contacted the Company have all specified that meters are an integral part of their business plan. India has a strong culture of metered taxis and auto rickshaws.
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