wordpress blog stats
Connect with us

Hi, what are you looking for?

Self-drive car marketplace JustRide raises $3 million

JustRide, a self-drive car rental marketplace, has raised $3 million in bridge funding from Susa Ventures, Kima Ventures, Axan Ventures, SCM Holdings, IT-Farm, Y Combinator partners Justin Kan, Qasar Younis and Paul Buccheit, reports Economic Times. Note that JustRide was a part of Y Combinator’s summer batch in July this year and got $120,000 from the accelerator for a 7% stake in the company. JustRide will use the funds for JustConnect, the car sharing platform, Yabber, an IoT device for driving skills analysis and scale its fleet to 2,000 cars from the current 300. It plans to add 300 cars monthly for the next 6 months. According to the report, JustRide has an annual GMV of $3.5 million and net revenues of $1.5 million as of now. The company charges a refundable deposit of Rs 1000 for confirming the user’s booking and charges Rs 9-15 per km on excess kms driven on a limited kms package, depending on the booked car. Interestingly, JustRide does not provide reimbursement if the car breaks down but will provide the user with another can when available if the car can’t be repaired immediately. It adds that, “The replacement car provided depends on the discretion of the management and is subject to availability.” It is present in Pune, Mumbai and Bangalore and operates by either asking people to attach their cars to its platform or by leasing cars and providing a commission on those leases. Earlier this year, JustRide hired Bharath PN as its executive…

Please subscribe/login to read the full story.
Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ