Savaari has entered into a strategic partnership with Hindustan Times Media Group, one of the leading media houses in India, via their strategic investment arm – Ad for Equity (AFE). Savaari joins other marquee names in the Indian startup ecosystem like OYO, Mobikwik, Magicpin, Snapdeal, Okinawa among many others who have previously partnered with HT Media.
This partnership, which spans over 5 years, gives Savaari access to high quality growth capital and connects with 270mn+ Indians on HT Media’s Digital, Print and Radio assets. Savaari wishes to leverage this access to unlock multiplier effects in generating demand for its Car Rental services and organizing the Road Travel category.
Speaking on the partnership Mr. Gaurav Agarwal, Founder & CEO Savaari Car Rentals stated: “We firmly believe that India is best explored by road. This partnership will help position Savaari Car Rentals as a champion of road travel in India, as well as offer strong demand generating channels across Tier 1 and 2 cities in the country where Hindustan Times Media is a dominant force.”
Savaari is expected to grow to a 125 Crore company in this current financial year, signaling one of the strongest rebounds in the Indian travel sector.
Mr Piyush Gupta, CEO Strategic Investments & Group CFO, HT Media, said that we are delighted to make an investment in Savaari, a key player in India’s intercity taxi market. Through our partnership we would work together to establish Savaari as India’s preferred choice of travel in consumer’s mind.
About Savaari: Mr. Gaurav Agarwal founded Savaari in 2006. After moonlighting initially, the company was incorporated as a private limited company in 2012. Today Savaari Car Rentals is one of India’s largest Intercity and Local Cab Services. It is headquartered in Bangalore with offices in 5 cities across the country – Mumbai, Gurgaon, Chennai, Hyderabad and Moradabad. For more details log on to: www.savaari.com
Savaari’s approach to diversification has always been led by the customer needs, while staying rooted in its core competence of Car Rental services. With scalable technology infrastructure and in-house expertise in executing road-trips. It is led by its mission statement of “Making every Indian fall in love with road travel” to deliver premier car rental services for customers’ road trip experiences.