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Company:
Nuvven
Team:
Biswajit Kundu Roy – CEO
Rishabh Makrand – Head of Technology
Lee Anderson – Head of Sales and Partnerships
Kevin Anderson – Chief Marketing Officer
Tor Bollingmo – Head of Products
Web:
www.nuvven.com
Value Proposition:
Nuvven are making car rentals better for everyone (customers and car rental businesses) by solving the massive market fragmentation, ‘clunky’ customer experience issues and lack of access to quality insurance in the market which is difficult to address without scale. We have developed a 2-sided platform powered by AI and IoT that fully digitises and connects independent car rental companies to end customers to deliver a 21st century car hire experience at SCALE. In addition, the data from the platform can unlock other value added services such as on-demand insurance
Customer Segments:
We have a multi-phased business vision, with their SaaS platform (Phase 1) at the core:
• Phase 1: SaaS platform powered by IoT and AI that digitises independent car hire businesses and provides tools to improve their efficiency and utilisation of vehicles (35% market share of £60bn and expected to grow by 60% in next 5 years) and access to on-demand insurance
• Potential Phase 2/3: Consumer app that connects our car rental partners to corporate customers and subsequently to retail customer across key locations
• Potential Phase 4/5: Develop an ecosystem to connect insurers, leasing companies, etc. and move into MaaS with a highly scalable supply chain
Market Traction:
Funding Stage:
Seed round
Funding & Investment to Date:
4 angel investor - £250K
Investment Sought:
£1.5m at £4.5m valuation pre-money
www.nuvven.com
DISCLAIMER
The purpose of this Investor Showcase is to provide information on the business described above. The Investor Showcase is not a prospectus and does not constitute or form any offer or invitation to subscribe for, underwrite, or purchase securities, nor shall the Investor Showcase or any part of it form the basis of, or be relied upon in connection with, any contract relating to any securities unless expressly included hereafter.
WARNING
The content of this Investor Showcase has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Reliance on this Investor Showcase for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested
Nuvven
Team:
Biswajit Kundu Roy – CEO
Rishabh Makrand – Head of Technology
Lee Anderson – Head of Sales and Partnerships
Kevin Anderson – Chief Marketing Officer
Tor Bollingmo – Head of Products
Web:
www.nuvven.com
Value Proposition:
Nuvven are making car rentals better for everyone (customers and car rental businesses) by solving the massive market fragmentation, ‘clunky’ customer experience issues and lack of access to quality insurance in the market which is difficult to address without scale. We have developed a 2-sided platform powered by AI and IoT that fully digitises and connects independent car rental companies to end customers to deliver a 21st century car hire experience at SCALE. In addition, the data from the platform can unlock other value added services such as on-demand insurance
Customer Segments:
We have a multi-phased business vision, with their SaaS platform (Phase 1) at the core:
• Phase 1: SaaS platform powered by IoT and AI that digitises independent car hire businesses and provides tools to improve their efficiency and utilisation of vehicles (35% market share of £60bn and expected to grow by 60% in next 5 years) and access to on-demand insurance
• Potential Phase 2/3: Consumer app that connects our car rental partners to corporate customers and subsequently to retail customer across key locations
• Potential Phase 4/5: Develop an ecosystem to connect insurers, leasing companies, etc. and move into MaaS with a highly scalable supply chain
Market Traction:
- Phase 1 SaaS beta platform is live with 2 UK customers with total of 100 fleet (MRR-£1200)
- we are looking to onboard another 3-4 customers over March/April with a total fleet size of 900 vehicles (1 has signed the contract and in discussions with others) to achieve MRR of £12K
- applied for Smart Innovation grant from Scottish Enterprise to develop our AI based insurance on-demand solution
- we are a team of 18 people and HQ in Edinburgh, UK and a growing Technology team in Bangalore
- strong active pipeline of 10-12 customers with over 8-10K fleet in total to be onboarded across Q2/Q3/Q4 and 1900+ leads in CRM for scaling up the business across UK, Europe and US
- experienced and well connected advisory panel from the industry (including ex-MD of Hertz)
- exciting partnerships in place with Trov and Zego for on-demand insurance and Elavon for digital payments and Passbase for Biometric ID which are creating additional revenue streams but also significant value for our customers
Funding Stage:
Seed round
Funding & Investment to Date:
4 angel investor - £250K
Investment Sought:
£1.5m at £4.5m valuation pre-money
www.nuvven.com
DISCLAIMER
The purpose of this Investor Showcase is to provide information on the business described above. The Investor Showcase is not a prospectus and does not constitute or form any offer or invitation to subscribe for, underwrite, or purchase securities, nor shall the Investor Showcase or any part of it form the basis of, or be relied upon in connection with, any contract relating to any securities unless expressly included hereafter.
WARNING
The content of this Investor Showcase has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Reliance on this Investor Showcase for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested
