India-based carpooling platform operator Quick Ride has raised Rs 1bn ($14.3m) in a series B round led by media and e-commerce group Naspers, Inc42 has reported.
Naspers invested approximately $8.2m through its Naspers Ventures unit to lead the round, which included $3.6m from venture capital firm Sequoia Capital India and $2.6m from investment firm Venture Highway, according to a regulatory filing.
Founded in 2014, Quick Ride has created an online platform that allows users to connect with each other to share vehicles for journeys. Its app enables vehicle owners to choose how much they charge per trip and allows them to waive charges to help reduce vehicle emissions.
Ashutosh Sharma, head of India investments at Naspers, has joined the company’s board of directors in connection with the round while Venture Highway’s Priya Mohan has taken a board observer role.
Quick Ride had previously received an undisclosed amount of series A funding from Naspers, Sequoia India and Venture Highway, according to Inc 42, though it did not reveal when the round closed.