Carsharing Startup JustRide Raises $2M

Mumbai-based carsharing startup JustRide has raised $2 million in pre-series A round of funding, according to a report by iamwire.com.

The funding will be used to further develop the company’s technology.

Founded in April, JustRide currently operates in four Indian cities, including Bangalore, Delhi, Mumbai and Pune. It is planning to expand to 12 cities in the near future, according to the report.

Cars can be booked on both JustRide’s website and mobile app. The company will send the booked cars to the user’s address within 30 minutes of the booking time, according to the report.

Starting with only eight cars, Just Ride now has approximately 350 cars for rent. Hemant Kumar Sah, co-founder and chief technology officer, told iamwire.com that the company is adding about 150 cars per month.

JustRide will be competing against other carsharing companies such as ZoomCar and Carzonrent, according to the report.

Click here for the full iamwire.com report.