Company Name : 360Ride
Funding Amount : Rs 1 crore
Investor(s) HNI . .
Funding Round : Seed round
Bangalore based startup, 360Ride that offers a P2P powered free ride sharing platform for commuters, has raised 1 crore in seed funding from a Delhi based Investor (HNI).
Launched in 2015, 360Ride aims to create a strong pool of like-minded verified commuters by becoming an alternative mode of urban transportation.
The startup is planning to use the fund in marketing initiatives and create awareness about 360Ride.
Lokesh Bevara, CEO & Founder of 360Ride, said, “We are very happy to be backed by an investor who understands the industry really well and whose interest are aligned with ours. We are bound with the vision of providing an easy ride sharing platform that can offer a low cost, P2P powered transportation systems and provide a convenient and hassle free commute for everyone.”
The company claims that it is doing around 50 rides per day with a total of 3000 rides till date. The startup is currently operational in Bangalore, Delhi, Gurgaon and Noida and plans to expand to all major metros by second quarter of 2016.