VOLER CLOSES MAIDEN FUNDING ROUND

The self-drive car rental company received funding from gaming conglomerate & leading entrepreneur

 Funds will be used for technology innovation and Pan-India expansion

 by Shrutee K/DNS

City, June 27, 2016: Voler Cars, one of the leading mobility solutions and fastest growing self-drive car rental companies in the country has raised an undisclosed round for a minority stake in the company led by prominent investors such as the Kanodias, having interests in consumer tech companies & playing an active role as investors in the startup ecosystem along with Amit Banka, leading Investor and entrepreneur.

Voler Cars presently operates its self-drive rentals in New Delhi & Bangalore and is planning to reach 1000 car fleet operations within 12 months. Current fleet includes a range of aspirational cars from mini-hatchback to SUVs to luxury sedans. The company plans to use the money raised in this round for expansion of fleet across multiple cities such as Hyderabad, Mumbai, Pune etc. over the next few months.

Speaking on the announcement, Mr. Vikas Parasrampuria, CEO & Founder, Voler Cars said “We are pleased to announce funding round and partner with some of the leading business names in the market. At Voler, we believe in steady growth of business by providing it a strong foundation. In the last 7 months of self-drive operations, we have invested significantly in establishing an efficient operating model with a sound technology intervention. This capital funding will enable us in offering more superior yet convenient and safer interface to our consumers”.

Ms. Punam Kanodia on participation in this funding round said “We are happy to partner with Vikas in his journey to take Voler and the self-drive rental business to newer heights. We are excited about the way the self-drive rental business has shaped up in the last few years. We look forward to growing this sector in India” Voler’s unique model of unlimited kilometers and fixed / transparent pricing is widely accepted by the users in Delhi NCR, making the user base in Delhi jump to 15000+ consumers with 50% traffic coming from its new-age android application and iOS applications.

The company has designed its operating model keeping in mind consumers experience and safety. Voler uses world-class technology and safety controls that keeps consumer always connected through real time inputs about the car, speed, location, and several other important parameters. 

About Voler: Voler Cars is a holistic mobility solutions company that was founded in 2010 by a first generation entrepreneur. Over a period of time, with a vast experience in handling large fleet, technology and consumers. Voler Cars has emerged as a leading player in the Urban mobility space that includes self-drive business operations. It reaches over 1mn+ people annually across the country and manages over 2,000 vehicles at any given point supported by a trained team of more than 250 people across India. It has synergized its strength in the Indian employee transportation arena by providing solutions to India’s leading multinational IT & ITeS companies with a commitment to become the largest in the sector by 2020. With its Self-drive car rental model it aims so be largest urban mobility solutions provider by 2020.