Carpool Startup Maintains Control Without VC Funding

The shared-used transportation market continues to boom, causing startup rideshares to take on specialized models in an effort to compete.

Enter Pool My Ride: a peer-to-peer ridesharing service that operates like a typical UberPool, except riders can choose their drivers based on the direction they are traveling and travel timeframe.

The Delhi, India-based startup is particularly unique to rideshare giants like Uber and Lyft because it is not running on VC funding, co-founder Rajat Talwar told Mobility Buzz.

With five developers on the rideshare team, “we are pumping our own money into this right now,” he said.

The last round that the company raised was an undisclosed amount in January 2015. The venture round was led by Carma Axlr8r and SOSV. “But after that, we haven’t’ raised any rounds,” Talwar added. “Right now, we want to keep the control in our own hands.”

Most other rideshares in the space, including the larger companies, are running on VC money, “so they haven’t proven their good, sustainable model yet,” Talwar said.

For example, Lyft has been quietly pitching investors on a funding round, that it hopes will net at least $500 million, according to a published report. If achieved, that fundraising would value the ride-hailing service between $6 billion and $7 billion.

Those interested in learning more about rideshare startups disrupting the transportation industry, should join us at the second annual Auto Finance Innovation 2017 conference, May 17-18 at the Hilton Bayfront in San Diego. Visit www.autofinanceinnovation.com and to learn more.

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