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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

May - 2012 - issue > Venture Beat

Savaari Car Rentals secures `5 Crore Funding from Inventus Capital

SI Team
Tuesday, May 1, 2012
SI Team
Savaari Car Rentals has raised 5 crores Series A funding from Inventus Capital partners. The company, founded in 2006 by Gaurav Aggarwal has grown into a network of over 100 operators across 60 cities and has clocked an experience of over 7 lakh trip hours. The company is targeted at corporate users, retail users and online travel agents.

The company aims to provide world class car rental services in India with prices that compete with the local car rental providers. It tries to lower the operating cost through extensive use of technology to provide excellent services. Savaari will use the funds to build a service to allow easy bookings by providing an automated billing for their customers. The company will also use the funds to recruit marketing talent and to grow its business across cities by establishing a strong sales network. Some of the funds will be used to improve technology solutions which deliver superior travel experiences to the customer.

Samir Kumar and Parag Dhol from Inventus Advisory Services (India) will be joining the Board of Directors at Savaari. Inventus's investment portfolio companies are Vizury Interactive Solutions Pvt Ltd (Internet marketing company), TeliBrahma (mobile digital media firm), Insta Health Solutions (hospital IT solutions firm), Pilani Soft Labs of redBus.in (online bus ticketing provider) and Wealth India Financial Services of FundsIndia.com (online investment services platform).
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