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DriveU raises Rs 19 crore in pre-Series A funding round

On-demand private driver service DriveU has raised US $3 million (Rs 19 crore roughly) in its pre-Series A funding round. The funding was led by Amit Singhal, a former top executive for Google. Other investors for this round include Unitus Seed Fund, Geoff Wooley of Patamar Ventures, Rajeev Madhavan of Clear Ventures, among others. The company plans to use the funds to further expand its reach and offerings to customers.

DriveU, is the venture of Bengaluru-based company Humble Mobile Solutions and allows users to call for a driver local and travel through its website, app or by calling a designated number. The company claims to have grown at 16% month-over-month since inception.

In February 2016, Unitus Seed Fund led a $1million seed investment in DriveU.

DriveU, founded in July 2015 by Rahm Shastry, Ashok Shastry and Amulmeet Singh. It acquired rivals CallAtHome in May 2016, Driverkart in May 2017, and Zuver in July 2017 to access their driver networks in the National Capital Region, Mumbai and Chennai respectively.

The service is available in 6 cities: Bangalore, Chennai, Delhi NCR, Hyderabad, Mumbai and Pune. The company has a fleet of 6,000 drivers and plans to expand this to 10,000 drivers by the end of 2018.The chauffeurs are offered to both individual customers and businesses at rates starting at Rs99 per hour. The company claims to have completed 350,000 trips for nearly 100,000 customers and 40 businesses.

While there seem to be no other major driver-for-hire ventures, the personal transportation space is populated with big players. Ola and Uber dominate the Indian market, by offering cab aggregation services. Mahindra & Mahindra is also reportedly looking to enter this segment. Further, Zoomcar provides cars on rent on daily or hourly basis, to be self-driven. Rentalcars and Turo are other players in this space.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ