Mumbai-based self-drive car rental aggregator, JustRide, has raised a funding of $2 million in pre-series A round of funding. The fresh capital will be used to further develop its technology.
The company was founded in April 2015 by Ashwarya Pratap Singh, Hemant Kumar Sah, Vasant Verma, Abhishek Mahajan and Amit Sahu. Currently it operates in Bangalore, Delhi, Mumbai and Pune, and is planning to expand its service in 12 more cities in the near future.
JustRide focuses on connecting existing vendors in the car rental industry to the end user through a hyperlocal service network. Cars on JustRide can be booked both via its site and app. The company claims to send the booked cars to the user’s address within half an hour of the booking time, reports BL.
The enterprise started off with just eight cars, and now it has about 350 cars for hire. Currently, JustRide is adding around 150 cars per month, and expects to reach 10,000 vehicles in two years, said Hemant Kumar Sah, co-founder & CTO.
Not long back, the company had raised an undisclosed amount of angel funding from Alok Mittal (cofounder of Angel India Network), Zeeshan Hayat (CEO and cofounder of Toppr.com), Niraj Singh (founding partner of Outbox Ventures), Nikunj Jain (cofounder of Frankly.me), Anirudh Damani (Partner of Artha Energy Projects), Punit Goyal (cofounder and MD at PLG Clean Energy Projects), Rohit Chokani (Company Director at Lakshchandi Realty) and Palaash Ventures.
The firm is up against players like ZoomCar, Carzonrent and other upcoming startups like Revv, LetMeDrive and so on who are operating in the same segment in India.