Self-drive car rentals platform IndusGo on Wednesday said it has raised $12 million from its parent company Indus Motors. Separately, OP3N, a Web 3.0 AI-powered social platform, raised $28 million in a Series A funding round.
IndusGo raises $12m from parent company
Self-drive car rentals platform IndusGo on Wednesday said it has $12 million from its parent company Indus Motors.
The company plans to use the funds to expand its fleet of vehicles by 1,000 cars in addition to the existing fleet of 480 cars, employ advanced cutting-edge technology, provide a seamless booking process, and hire additional staff to improve customer service.
Founded in 2018, IndusGo operates on a self-drive car rental business model, where customers can reserve a car for a few hours, days, or even months through the IndusGo app and website. The company is planning to launch across metro cities in South India like Bangalore and Hyderabad.
Web3 company OP3N bags $28m
OP3N, a Web 3.0 AI-powered social platform, has announced that it raised $28 million in a Series A funding round at a valuation of $100 million.
The funding round was led by Animoca Brands and included investments from Dragonfly Capital, SuperScrypt, Creative Artists Agency and New Enterprise Associates’ Connect Ventures, Republic Crypto, Avalanche’s Blizzard Fund, Galaxy Digital and Warner Music Interactive.
Additional investors include GSR Markets, The Spartan Group, BRV Capital Management and NBA player Russell Westbrook, among others
The company plans to use the fresh capital to further develop its chat-based product dubbed Superapp application, as well as grow its leadership team.