Company Name : Revv
Funding Amount : Not Disclosed
Investor(s) : Ananth Narayanan (the newly hired CEO of Myntra) and 10+ Directors and Partners from McKinsey
Funding Round : Angel round
With funding from Ananth Narayanan, the newly-hired CEO of Myntra and 10+ Directors and Partners from McKinsey, Anupam and Karan (both ex Associate Partners at McKinsey ) have launched Revv, a self-drive car rental startup, which is betting on a pure-play “doorstep delivery of cars” business model (think Domino’s+Zipcar).
This bet is based on our belief that the sheer convenience of an “order-a-car” product can create entirely new use-cases, and radically improve the growth trajectory of self-drive car rental market in India.
While several other players offer this is as an option, it is generally as an exception and at a steep price tag. The trick is to do this on 100% basis, and a cost that is easily affordable (a natural area for us since each of us has spent almost a decade in hardcore operations).
Also, Revv is offering “unlimited kilometres”, i.e. pricing plans are based only on hours of usage.
The company is starting with a fleet of 50 cars from Delhi-NCR and is targeting 4-6 cities by the end of this year, and a fleet of 20K+ cars in the next 3-4 years, to be the largest self-drive car rental company in India.