About Meru
Meru is a company based in Mumbai (India) founded in 2007 by Rahul Arun Kapani was acquired by Mahindra in August 2019. It operates as a Mobility-as-a-Service, and On-Demand Services. Meru has raised $135.07 million across 8 funding rounds from investors including Mahindra, Timesgroup and India Value Fund Advisors. The company has 930 employees as of April 08, 2024. Meru offers products and services including Alyte, Alyte for Enterprises, Electric Fleet, Outstation Rentals, and Airport Services. Meru operates in a competitive market with competitors including Uber, Savaari, Gozocabs, Namma Yatri and TaxiForSure, among others.
- Headquarter Mumbai, India
- Employees 930 as on 08 Apr, 2024
- Founders Rahul Arun Kapani
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Mahindra Logistics Limited
- Date of Incorporation 04 Dec, 2006
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$7.17 M (USD)27.2as on Mar 31, 2022
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Net Profit
$-2.36 M (USD)35.9as on Mar 31, 2022
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EBITDA
$-1.62 M (USD)37.8as on Mar 31, 2022
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Total Equity Funding
$135.07 M (USD)
in 8 rounds
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Latest Funding Round
$117.89 K (USD), Series C
Nov 19, 2019
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Investors
Mahindra
& 6 more
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Employee Count
930
as on Apr 08, 2024
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Acquired by
Mahindra
(Aug 31, 2019)
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Products & Services of Meru
Meru offers a comprehensive portfolio of products and services, including Alyte, Alyte for Enterprises, Electric Fleet, Outstation Rentals, and Airport Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mobility solutions are provided for individuals and enterprises.
Corporate transport solutions are offered for employee commuting.
Electric vehicles are deployed for eco-friendly transportation services.
Rental services are provided for outstation travel needs.
Airport transfer services are ensured with safe vehicles.
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Funding Insights of Meru
Meru has successfully raised a total of $135.07M across 8 strategic funding rounds. The most recent funding activity was a Series C round of $117.89 thousand completed in November 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Series C — $117,891
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First Round
First Round
(01 Feb 2007)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2019 | Amount | Series C - Meru | Valuation | Brand Capital |
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| Jun, 2016 | Amount | Series C - Meru | Valuation | Brand Capital | |
| Mar, 2015 | Amount | Series C - Meru | Valuation | True North |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Meru
Meru has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Mahindra, Timesgroup and India Value Fund Advisors. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments in early-stage startups are made by Brand Capital.
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Founded Year | Domain | Location | |
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Private equity is invested by True North in mid-market companies.
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Founded Year | Domain | Location | |
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PE firm investing in India
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Meru
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Meru
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Meru Comparisons
Competitors of Meru
Meru operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Uber, Savaari, Gozocabs, Namma Yatri and TaxiForSure, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
An online platform providing ride-hailing and food delivery services
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| domain | founded_year | HQ Location |
App-based intercity ride-hailing aggregator
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| domain | founded_year | HQ Location |
Inter-city taxi bookings are enabled via a mobile app platform.
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| domain | founded_year | HQ Location |
Three-wheeler rides are booked via an app-based platform.
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| domain | founded_year | HQ Location |
Car rental aggregator
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Meru
Frequently Asked Questions about Meru
When was Meru founded?
Meru was founded in 2007.
Where is Meru located?
Meru is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Who is the current CEO of Meru?
Zhooben Dosabhoy Bhiwandiwala is the current CEO of Meru.
Is Meru a funded company?
Meru is a funded company, having raised a total of $135.07M across 8 funding rounds to date. The company's 1st funding round was a Series C of $50M, raised on Feb 01, 2007.
How many employees does Meru have?
As of Apr 08, 2024, the latest employee count at Meru is 930.
What is the annual revenue of Meru?
Annual revenue of Meru is $7.17M as on Mar 31, 2022.
What does Meru do?
Comprehensive mobility solutions are offered by Meru, a brand under Mahindra Logistics Limited, focusing on safe and reliable transportation for individuals and enterprises across major Indian cities. Services include employee commutes, airport transfers, outstation rentals, and corporate transport management. The company operates in sectors like automobile, e-commerce, and consumer industries, integrating technology for real-time tracking and operational efficiency. Sustainable initiatives are emphasized through the deployment of electric vehicles to reduce environmental impact. End-to-end solutions are provided, covering booking, billing, and fleet management with a focus on safety and compliance.
Who are the top competitors of Meru?
Meru's top competitors include Uber, Savaari and TaxiForSure.
What products or services does Meru offer?
Meru offers Alyte, Alyte for Enterprises, Electric Fleet, Outstation Rentals, and Airport Services.
Who are Meru's investors?
Meru has 7 investors. Key investors include Mahindra, Timesgroup, India Value Fund Advisors, Brand Capital, and True North.
What is Meru's valuation?
The valuation of Meru is $12.14M as of Nov 2019.
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