Car and bike pooling platform Quick Ride in Talks to Raise $4 million

Bengaluru: Car and bike pooling platform Quick Ride is in talks to raise $4 million in a round led by Sequoia Capital, according to three people familiar with the matter. Bootstrapped since its inception in 2015, this will be the first round of external funding for the Bengaluru-headquartered company. Founded by KNM Rao and Shobhana BN, Quick Ride is a car and bike ride pooling platform that connects commuters travelling in the same direction in real-time and schedules the rides instantly for an immediate ride.

While Quick Ride cofounder Rao denied any funding discussions, Sequoia did not respond to queries sent by ET as of press time. The company is currently operational in Bengaluru, Chennai, Hyderabad, Pune and Kochi with 50,000 daily shared rides. Rao said Quick Ride will launch operations in Delhi and Mumbai this month.

“This year, the growth had been phenomenal and about 65% of our new users come through referrals,” said Rao, adding that the company’s aim is to remove one million cars from the road everyday in the next two years.