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Online car-rental site JustRide raises funding from angel investors

Mumbai-based
car-rental aggregator
JustRide has raised
funding from Alok Mittal of Angel India Network, Zeeshan Hayat from Toppr.com,
Nikunj Jain of Frankly.me, and Outbox Ventures’ Niraj Singh, among others.

Mumbai-based
car-rental aggregator
JustRide has raised
funding from Alok Mittal of Angel India Network, Zeeshan Hayat from Toppr.com,
Nikunj Jain of Frankly.me, and Outbox Ventures’ Niraj Singh, among others.

According to a
TechinAsia
report, the startup also launched its services in
Bangalore, Pune and Gurgaon.

In 2014, JustRide
was co-founded by Ashwarya Pratap Singh, Hemant Sah, Vasant Verma, Abhishek
Mahajan, and Amit Sahu. The company’s mobile and web-based platform enables its
customers to transact with car-rental vendors.

JustRide does
not own the vehicles it rents out to its customers, it leases them from
individual car rental vendors. Users who need a car can discover and book cars,
including luxury cars, hyper-locally on the JustRide website. JustRide is now
even including some smart tech in that allows users to check stats like tire
pressure and engine load before booking a ride to be sure the car’s in good
repair. And once a car has been booked, it can be delivered right to the user’s
home.

The company said
in the report that its model works by taking advantage of the high cost of
vehicle maintenance and the low frequency of use required by most users.
Instead of buying a car they don’t use much, users can rent a car only when
they need one, which saves money.

JustRide claims it
has acquired 700 customers and generated over 1,200 transactions in Mumbai and
Bangalore since the beginning of April this year.

Going ahead,
JustRide’s goal is to enable its vendors to register a fleet of cars on its
tech platform. It also wants to reduce the time required for car delivery to
ten minutes, once booked. By December, it also hopes to provide its service to
eight more Indian cities.

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