The round was led by Japan Vyas, co-founder and Managing Partner of Sixth Sense Ventures and Tarun Adlakha.
“We’re excited to have on board veterans such as Japan and Tarun. We look forward to the diverse and incredible experience they bring to the table. The Ground Transportation industry is currently shrouded in opaqueness, and only with technology one can remove the cloud. We at Mind Your Fleet aim to organise this industry”, said Jitender Arora, co-founder, Mind Your Fleet.
He went on to add that the company is now actively looking to raise its Series A round.
Founded in September 2014, Mind Your Fleet (MYF) provides an enterprise technology solution for car rental companies to manage operations and also their retail and corporate customers.
At the heart of the product is a proprietary B2B marketplace that lets fleet owners access each other’s inventory in real time, and connect with several demand side players including Online Travel Agents (OTAs), Corporates or Hotels. Inventory is integrated onto MYF’s platform thus promoting higher utilization and cross-utilization of assets.
“At any given time, a car rental company utilizes only a fraction of their fleet. This in turn leads to wastage of money and huge operational challenges. Mind Your Fleet aims to solve this problem by helping car rental companies streamline their operations, and create efficiencies”, said Malvinder Singh Rikhy, co-founder, Mind Your Fleet.
By the end of 2016, the platform claims to have clocked more than 100,000 bookings.
Karambir Singh, CEO of Mind Your Fleet, said, “Our product has been well received in the market and we have added 60+ revenue paying customers with over 10 Cr of transactions processed on our platform. Our customers are geographically spread across the metros as well as smaller cities including, Ranchi, Allahabad, Guwahati, and Bhopal to name a few.”
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