Self driving car rental start up Revv has raised Rs 100 crore in its Series B funding led by Hyundai Motors, the company said in a statement. Revv’s existing investors Edelweiss and Beenext also participated in the round, along with new investors Dream Incubator, Sunjay Kapoor of Sona BLW and Telama Investment. The company had previously raised $9 million in Series A equity funding led by Edelweiss Private Equity and debt funding from Mahindra & Mahindra Financial Services. Revv will use the fresh funding to expand its product offerings for both long-duration and on-demand use cases, strengthen its technology team and build brand awareness. It also plans to expand its geographical footprint to 30 cities, from the 11 it currently operates in, during the next 12 months. Hyundai Motors, which is the only automotive company among Revv's investors, says that it will help Revv in development of new mobility service platforms, and product marketing. Revv will also leverage Hyundai for its knowledge in vehicles, including performance upkeep, maintenance of cars and more, according to a report. The Delhi based company was founded in 2015 by by ex-McKinsey executives, Anupam Agarwal and Karan Jain. The company currently operates in Bangalore, Hyderabad, Chennai, Mumbai, Pune, Delhi NCR, Chandigarh, Jaipur, Visakhapatnam, Mysore and Coimbatore, with a fleet of around 1,000 vehicles. It offers (self driving rental) cars across segments like SUVs, ultra-luxury cars, hatchbacks and sedans for round-trips, outstation one-way, local one-way and weekly commute trips. The company also claims to provide a ‘pick-up…
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