What is Myles?
Myles operates as the self-drive service offered by Carzonrent, a leading Urban Mobility Solutions Provider in India. The company specializes in offering a wide array of self-drive car rental options, catering to both leisure and business travelers. With a fleet comprising over 1000 cars across 34 models, ranging from electric vehicles to SUVs and luxury cars, Myles provides customers the flexibility of hourly, daily, and weekly bookings. Its unique selling proposition lies in its extensive presence at 10 major airports across India, making it the sole self-drive service with such widespread airport accessibility. This strategic placement allows customers to commence their journeys immediately upon arrival, ensuring a hassle-free travel experience. Myles leverages GPS tracking for all its vehicles and offers booking convenience through mobile, web, and phone channels.
How much funding has Myles raised?
Myles has raised a total of $20M across 1 funding round:
Private Equity
$20M
Private Equity (2016): $20M with participation from Carzonrent
Key Investors in Myles
Carzonrent
Carzonrent is India's leading premium mobility solution provider, specializing in chauffeur-driven car rental services for both business and individual clients. With over 24 years of service excellence, the company offers a range of travel solutions including corporate travel, airport transfers, long-term rentals, and customized holiday packages across 79 cities. The company prides itself on providing reliable, tech-driven transportation with verified chauffeurs and 24/7 customer support to enhance the travel experience. Carzonrent caters to a broad client base, including corporates, SMEs, government bodies, and hospitality businesses, ensuring seamless journeys and customer satisfaction.
What's next for Myles?
With a recent major strategic investment, Myles is poised for significant expansion. The company has outlined ambitious plans to add six more airports to its network and introduce an additional 300 cars by the end of June. Looking further ahead, Myles aims to bolster its fleet to an impressive 4000 cars by the close of March 2016. This aggressive growth strategy, driven by substantial capital backing, indicates a strong focus on capturing a larger share of the Indian self-drive car rental market. The company's commitment to enhancing customer convenience and expanding its geographical footprint suggests a strategic push to solidify its leadership position and capitalize on the increasing demand for flexible and accessible personal transportation solutions.
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