CarDekho acquires majority stake in shared mobility startup Revv

Auto-tech company based in Gurugram, CarDekho Group, has acquired an undisclosed majority stake in shared mobility and self-driving car startup Revv, the company announced Friday.

The strategic merger reinforces CarDekho’s commitment to integrate upcoming technology into the evolving automobile ecosystem and cater to the diverse mobility needs of consumers, as per an official company statement.

CarDekho has a diverse fleet of vehicles and a network spanning across India, with companies like ZigWheels, BikeDekho, PowerDrift, as well as OTO in Indonesia and Malaysia, and Carmudi in the Philippines for new cars, and Gaadi for used cars. InsuranceDekho and Rupyy are also a part of the Gurugram-based company’s offings and sister brands.

Revv is a business-to-consumer (B2C) platform launched by ex-McKinsey Karan Jain and Anupam Agarwal in August 2015 offering flexible mobility solutions and shared services.

"Through strategic integration of technology, we are not just evolving our services but also ensuring more seamless operations. 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 CEO of CarDekho Group.

The merger is aimed at CarDekho’s strategy of integrating technology with operations for creating a holistic ecosystem in the automobile space, offering seamless customer experience.

"With our expertise in shared mobility and CarDekho's technology prowess and understanding of the Indian automobile customer, we aim to set new benchmarks in flexible, affordable, and technology-enabled mobility solutions," Revv founders said in an official statement.