Car sharing platform Revv has announced the expansion of its services to four new cities, which includes Kolkata, Ahmedabad, Kochi, and Mangalore. With the expansion, the company now has presence in fifteen Indian cities.
The company says that by the end of this year, it’ll expand to another five cities, which will take Revv’s geographical footprint to 20 cities. This expansion will be accompanied with a corresponding increase in fleet size, and new one-way intercity routes.
The announcement comes after the company secured around Rs. 100 crore in its Series B funding round, led by Hyundai Motor along with Edelweiss and Beenext, Dream Incubator, Sunjay Kapoor of Sona BLW, and Telama Investment.
The company is also planning to increase its geographical footprint to 30 cities in the next 12 months. Commenting on the development, the company’s co-founders said:
We have seen great potential in Tier-2 markets, driven by the low penetration of car ownership, and increasing affluence and internet penetration. Tier-2 markets are catching up very fast – some of them are already approaching the scale where Tier-1 markets used to be 2-3 years back. The addition of these cities will also allow us to start offering our one-way intercity product on several new routes.
Founded by Anupam Agarwal and Karan Jain in July 2015, Revv introduced the concept of doorstep delivery in car sharing and followed it up with other innovations such as instant booking. It is currently amongst the largest car sharing platforms in India, and amongst the highest rated apps in the sector, globally.
The company is aiming to re-imagine the mobility solutions for users’ needs ranging from “few hours to a few years”, to cater to the vast majority of Indians who do not own a car yet. Its products include hourly self-drive car sharing, one-way outstation car sharing and Switch – a monthly car subscription program.
