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Revv Cars

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Revv Cars
Car rental
IndustryCar rental, Leisure, Travel and Tourism
FoundedGurgaon, India (2015)
FounderAnupam Agarwal, Karan Jain
Area served

Revv Cars is a self-drive rental car company based out of New Delhi, that allows users to rent and book self-driving cars. It was founded in 2015 by ex-McKinsey executives, Anupam Agarwal and Karan Jain.[1]

The company offer different services for renting cars - Hourly Rental, OPEN (multi-brand annual car subscription), One-way Outstation Rental, SWITCH (multi-brand monthly car subscription) and Hyundai Subscription.[2]

Revv's headquarters is in Gurgaon, Haryana. Apart from that, it offers services in 19 cities – Delhi NCR, Bengaluru, Hyderabad, Chennai, Mumbai, Pune, Kolkata, Ahmedabad, Mangalore, Chandigarh, Jaipur, Vizag, Kochi, Coimbatore, Mysore, Tirupati, Vijayawada, Trivandrum & Surat.[3]

History[edit | edit source]

Revv started in July 2015 with two ex-McKinsey employees sharing their experiences of travel. Anupam was earlier sustaining on cabs, but he realised the impracticality due to change in situations over time. His ex-colleague Karan Jain, on the other hand, had a different experience, where he learned about various kinds of travel options and recognised their need in India.[4]They started integrating technologies like Driver Behaviour Monitoring (DBM,) and On-board diagnostics (OBD,) in their cars from 2015.[5]

Now, Revv’s portfolio of cars includes 60 per cent SUVs (three to four models), 10 per cent ultra-luxury (two to three models), 30 per cent sedan and hatchback (three to four models).[6] In the long term, the company aims to not only popularise the use of self-drive rental cars, but also create a new world where people can own cars and get the same comfort without having to buy them.[7]

Investors[edit | edit source]

Revv has raised a total of $23.3M in funding over 4 rounds.[8] Their latest funding was raised on Aug 23, 2018 from a Series B round. Among the 10 investors that it has been able to garner, Telama Investment and Hyundai Motor Company are the most recent investors, with Hyundai putting in $14.3 million in investment. Other investors include Edelweiss Group, Beenext Dream Incubator, Sunjay Kapoor of Sona BLW and Telama Investment.[9]

Partnerships[edit | edit source]

Revv has partnered with two major firms – Mobileye[10], an Intel company, and Hyundai[11]. In their partnership with Mobileye in 2017, Revv introduced propelled driver help frameworks in their vehicles with the point of reducing road accidents and encourage safer travelling in India. Mobileye’s Advanced driver-assistance systems (ADAS) alert the driver prior to a potential accident, allowing them to react accordingly and mitigate or completely avoid the accident.[12].

Hyundai joined hands with the firm in 2018.[13]. It has a car-sharing partnership with Revv, which sustains on a subscription-based ownership model available to customers across the country. The pilot project of the initiative currently covers 6 cities - Delhi-NCR, Mumbai, Kolkata, Pune, Bengaluru and Hyderabad.[14]

Services[edit | edit source]

OPEN[edit | edit source]

OPEN is a subscription launched by Revv to allow users to own a car for a defined period. Under this, customers can rent a car for 12-48 months on a monthly subscription fee. OPEN has been launched in 6 cities - Delhi-NCR, Bangalore, Hyderabad, Mumbai, Pune and Kolkata[15][16]

Switch[edit | edit source]

Switch is another subscription service by Revv that offers car rental for a very short period. Cars can be rented for as short as a month. In this subscription, the users can switch between cars every month and choose from a wide range of models, including MUVs, SUVs, cross-overs, Sedans and Hatchbacks.[17]

One-Way Outstation and Hourly Rentals[edit | edit source]

Revv offers one-way outstation rentals & hourly rentals when it comes to short travels.[18]

Competition[edit | edit source]

Zoomcar was founded in Bangalore, Karnataka in the year 2012.[19]

Volercars founded in 2010, headquartered in Delhi.[20]

Drivezy founded in 2014, having its headquarters in Bangalore, Karnataka.[21]

References[edit | edit source]

  1. "About".
  2. "Offerings".
  3. "Offerings".
  4. Jain, Samiksha (18 January 2017). "How Revv Looks To Leapfrog Millennials From 'Owning' Cars To 'Using' Them" – via inc42.
  5. Elizabeth, Shilpa (18 January 2017). "Self-drive car rentals like ZoomCar, Revv are experimenting and innovating on tech front" – via inc42.
  6. Chaudhary, Suman (30 September 2016). "Revv to Double Its Fleet Size in the Festive Season; Plans to Add 400 Cars in the Next Three Months" – via Indianweb2.
  7. Lidhoo, Prerna (4 April 2019). "Indians are moving away from car ownership: Revv" – via FortuneIndia.
  8. "Crunchbase Funding round" – via crunchbase.
  9. auto, ET (23 August 2018). "Revv raises Rs 100 cr led by Hyundai, others" – via economictimes.
  10. "Revv partners with Mobileye to make its cars safer". 1 November 2018 – via business-standard.
  11. "Hyundai Partners With Revv To Offer Cars On Subscription Basis". 12 March 2019 – via outlookindia.
  12. "Revv Partners with Mobileye to Make Its Cars Safer". 1 November 2017 – via BusinessWorld.
  13. Ghosh, Malyaban (20 August 2018). "Hyundai Motor ventures into car-sharing" – via LiveMint.
  14. Bureau, FE (9 March 2019). "Hyundai India rides subscription model with Revv partnership" – via Financial Express.
  15. Kelshikar, Tushar (28 November 2018). "Revv OPEN new car subscription model launched" – via Team-BHP.
  16. "Revv launches car ownership platform OPEN". 28 November 2018 – via MoneyControl.
  17. "Mahindra introduces subscription service for its cars". Team Times Drive. 13 September 2019 – via TimesNowNews.
  18. Varshney, Rashi (10 August 2017). "Revv expands its one-way self drive outstation routes" – via Medianama.
  19. Abudheen, Sainul (2 October 2013). "Self-drive car rental service Zoom secures over $1.6M in seed funding led by New York-based Empire Angels" – via inc42.
  20. Staff, Inc42 (28 June 2016). "Self Drive Car Rental Startup Voler Cars Raises Funding" – via vccircle.
  21. "Website" – via Drivezy.

External links[edit | edit source]

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Category: Companies based in New Delhi Category: Car rental companies of India

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