Hyderabad-based real estate company Praneeth Group under its tech startup Venkata Praneeth Technologies Pvt Ltd launched a new cab-hailing service called Prydo on Thursday. 

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 Rs. 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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