UditPumPumPum, a Gurgaon based startup to offer used car leasing in the retail and corporate segment, has now secured INR 2.2 crore in a seed funding round from the LetsVenture Syndicate, led by the Pallav Pandey, CEO of Fastfox.
The other angel investors who participated in the funding round include the Rahul Agarwal (CFO, Near.co), Shobhit Shukla (Co-founder, Near.co), and Ritesh Malik (CEO of Innov8).
Company, as of now, has plans to use the new funds for category disruption, brand building, technology development, and expansion.
Tarun Lawadia, Founder and CEO, PumPumPum added,
“We are committed to offer a hassle-free smart car experience with zero down-payments, zero maintenance charges and zero insurance premiums. Ranging from monthly subscriptions of Rs 10,000 to Rs 1 lakh, PumPumPum car subscriptions are dynamic, based on duration of subscription. Witnessing a huge demand for luxury cars in the segment, we are also planning to offer Used Luxury Cars in the leasing format. The capital infusion will help us in category disruption and strengthen our product development, marketing and expansion plans.”