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CarDekho acquires majority stake in car rental startup Revv

CarDekho Group has acquired a significant stake in Gurugram’s self-driven car rental startup Revv. This move is part of the group’s strategy to expand its auto-tech solution services.

“The merger of Revv aligns with CarDekho Group’s overarching strategy of placing technology at the heart of its operations, aiming to create a complete automobile ecosystem for a seamless customer experience,” the company said in a statement. 

The CarDekho Group, known for brands like CarDekho, BikeDekho, Gaadi.com, Zigwheels, PowerDrift, InsuranceDekho, and Rupyy, will now integrate Revv’s shared mobility services into its portfolio.

“The merger with Revv allows us to offer shared mobility services, addressing the evolving needs of Gen-Z customers,” said Amit Jain, co-founder and chief executive officer of CarDekho Group.

Launched in 2015 by McKinsey alumni Karan Jain and Anupam Agarwal, Gurugram-based Revv specializes in providing self-drive car rentals in India. Notable investors in Revv include Hyundai, Japan’s Dream Incubator, Telama Investment, Edelweiss, and Beenext. 

With a presence in 22 cities across India, Revv boasts a fleet of over 3,500 cars. Its valuation stood at $138 million in October 2019, supported by $28.6 million in funding, according to Tracxn data.

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