Savaari Car Rentals Raises $1M From Inventus Capital Partners
Savaari Car Rentals Pvt Ltd, a company offering chauffeur-driven car rental services online, has raised series A funding of Rs 5 crore ($1 million) from Inventus Capital Partners. Bangalore-headquartered Savaari operates across the country (excluding the North East region) and runs a customer care centre in Dehradun.
The capital raised will be used to scale up its marketing team and grow its business across cities by establishing a robust sales network. Additionally, Savaari will invest in technology solutions for enhancing customer experience. Till now, the company has invested to put in place an integrated backend engine for booking management and automated billing.
Following this investment, Samir Kumar and Parag Dhol of Inventus Advisory Services (India) Pvt Ltd (the Indian subsidiary of the US-based Inventus Capital Partners) will join the board of Savaari.
Samir Kumar, managing director of Inventus Advisory Services, said, "In Savaari, we found a passionate entrepreneur who had boot-strapped the business to make it a significant pan-India operation."
Gaurav Aggarwal, founder and CEO of Savaari, said, "We believe that Inventus' support and direction will help us innovate and establish ourselves as the leader in the online car rental space within the country. The funding will be utilised to expand our reach and build a valued, scalable and innovative business."
Savaari has grown to a network of over 100 operators across 60 cities in India. It targets corporate and retail users, as well as online travel agents whose clients mostly opt for day trips, multi-day tours and also multi-city trips.