Carma Car startup secures investment from Kyyba Innovations

FARMINGTON HILLS, Mich., May 22, 2018 -- Kyyba Innovations today announced its investment decision in Carma Car, a vehicle subscriptions company. Carma Car was one of the finalists in TiECon Detroit's mobility competition partnered by Kyyba Innovations and Planet M.

"Car subscriptions concept is a low-commitment way to get behind the wheel of new or late-model cars; a disruptive way to access a vehicle by ordering it via smartphone app at a fixed cost. It is a great deal for people who want a shorter-term commitment and it is a fairly compelling value proposition," said Tel Ganesan, Managing Director, Kyyba Innovations.
Carma Car is a monthly vehicle subscription service that allows members to drive any of its cars as long as they want, with insurance, maintenance, and roadside assistance included in the fee. Carma is the future of driving and provides the most advanced software platform for car subscriptions. 

"Carma continues to build the future of driving with a technology platform for vehicle subscriptions, and the investment and industry connections provided by Kyyba Innovations will help accelerate our growth. We are excited to work with the Kyyba Innovations team and look forward to collaborating with the KI team in growing Carma to become the standard in vehicle subscription technology. We'd like to welcome Kyyba Innovations to our growing list of investors and supporters," said Azarias Reda, PhD - CEO

Kyyba Innovations is an innovation hub that makes investments in startups with fresh ideas that have the potential to become the next big thing in tomorrow's market. Questions can be directed to Sarah Myrand:

About Kyyba Innovations (KI)
Kyyba Innovations is an innovation and collaboration eco-system that provides innovators and entrepreneurs the environment to enable their ideas to become reality. We provide services that allow startups to scale to the next level. We do this by investing in businesses and leveraging our network to empower your organization to accelerate your mission forward.
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