InstaCar launches in Aplha, bags USD 1 million in seed

Yay! We did it. InstaCar successfully tested and launched the alpha version of its brand new version last week. We have been getting a tremendous response to the new design along with fresh inquiries. However, the best piece of news so far is that we have bagged USD 1 million in a seed round from HongKong – based Swastika Co Ltd. This also makes InstaCar a vital contribution to the overall startup ecosystem since it is the first foreign direct investment to a startup in Madhya Pradesh.

We now plan to launch in eight more regions across India. We are happy to share with you that we have onboard 500+ cars in Madhya Pradesh itself.

We impressed the investors due to our focus on operations, in building a revolutionary technology and our insightfully-built algorithms. One of our aims is to make car rentals easy and secure for the end-customers. That’s why we are building a revolutionary technology that would have a whole lot of algorithm and artificial intelligence making the app more intuitive.

We are excited to first make our operations absolutely flawless so that we could work on technology since both these strengths would help us scale up in other states of India as well.

I am really happy to have people onboard who have helped me in making the idea go 0 to 5 Million in just a couple of months.

  1. Pushpendra Agrawal ( Msg91.com / Socket )
  2. Naveen Modi
  3. Mukti Masih
  4. Finance – Manish Dafaria, Aditya Rana And Neeraj Sharma
  5. Legal – Shruti Dvivedi Sodhi
  6. Banker – Mayank Bhartiya
  7. Complete Aspricot and InstaCar Team

Our funding news excited the startup ecosystem and we were covered by a number of media houses and news portals. Read what the Media is saying about InstaCar.