Car Rental Startup JustRide Raises $400K From Angel Investors

Mumbai-based car rental service provider, JustRide, has raised $400K in pre-Series A round of funding from a group of angel investors including Dheeraj Jain, partner at Redcliffe Capital, reported Livemint.

JustRide was founded in April 2015 by Ashwarya Pratap Singh, Hemant Kumar Sah, Vasant Verma, Abhishek Mahajan and Amit Sahu.

The newly raised capital will be used by the startup to enhance its technology. JustRide is also in talks with an Indian FMCG company to raise $2 Mn in Series A round.

JustRide aggregates cars from individual car owners and tours & travel operators. The startup claims to have over 350 cars on its platform.

Prior to this, in November last year JustRide, raised a funding of $2 Mn. It indirectly competes with taxi aggregators and ride-sharing startups like Ola, Uber,Brazil-based Tripda and France-based BlaBlaCars, Let’s Ride, PoolCircle, and Ryde, among others.

Earlier this week, Pune-based social commute platform for ride-sharing, Cloudacar, raised an undisclosed amount of funding from Amit Choudhary, Snapdeal’s Senior VP (Corporate Finance) and Anuj Puri, chairman real estate services firm JLL India.

Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.