Naspers, Sequoia double down on Quick Ride

Shared mobility startup Quick Ride has raised Rs 100.78 crore ($14.3 million) from South African technology conglomerate Naspers and venture capital firms Sequoia Capital India and Venture Highway as part of its Series B round of funding, according to a media report. Naspers alone brought in around $8 million (Rs 57.61 crore), filings with the Ministry of Corporate Affairs show. Sequoia invested $3.6 million (Rs 25.2 crore) and the remaining was pooled in by Venture Highway. Quick Ride, which is operated by iDisha Info Labs Pvt. Ltd, had raised its Series A round from the same set of investors. Ashutosh Sharma of Naspers has been appointed as director and Priya Mohan of Venture Highway has been appointed as an observer on the board of Quick Ride. The start-up, which was launched in 2015 by KNM Rao (chief executive officer) and Shobhana Sriram (chief technology officer), provides a mobile app that enables users to find options for carpooling and bikepooling in real time.