About DriveNow
DriveNow is a company based in Munchen (Germany) founded in 2011 was acquired by BMW Group in January 2018.. DriveNow operates in a competitive market with competitors including TIER, Sixt, MILES Mobility, SHARE NOW and Car2go, among others.
- Headquarter Munchen, Germany
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Sectors
Travel & HospitalityTransportation, Automotive & Logistics
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Phone
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Website
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Social
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Funding Insights of DriveNow
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 DriveNow
DriveNow has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include BMW Group. 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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Automotive manufacturing company
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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 DriveNow
| 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 - DriveNow
| 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 |
Drivenow Comparisons
Competitors of DriveNow
DriveNow 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 TIER, Sixt, MILES Mobility, SHARE NOW and Car2go, 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 |
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| domain | founded_year | HQ Location |
Electric kick-scooters are rented through a mobile app platform.
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Rental cars and trucks are provided via an online platform.
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| domain | founded_year | HQ Location |
App-based dockless car rentals are facilitated in select German cities.
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| domain | founded_year | HQ Location |
App-based platform for electric-car rental
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| domain | founded_year | HQ Location |
Operates an app-based platform for online car sharing.
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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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 Drivenow
Frequently Asked Questions about DriveNow
When was DriveNow founded?
DriveNow was founded in 2011.
Where is DriveNow located?
DriveNow is headquartered in Munchen, Germany. It is registered at Munchen, Bayern, Germany.
What is the annual revenue of DriveNow?
Annual revenue of DriveNow is $50.05M as on Dec 31, 2023.
What does DriveNow do?
DriveNow was established in 2011 in Munich, Germany, as a joint venture between BMW, MINI, and Sixt in the car-sharing sector. Operations involve a one-time registration fee of 29 euros, with per-minute charging for usage. Petrol, insurance, parking tickets, and road tax are covered, without annual or monthly fees. Vehicles are located and booked through an app, and rentals can be ended by parking anywhere within the business area.
Who are the top competitors of DriveNow?
DriveNow's top competitors include Sixt, TIER and MILES Mobility.
Who are DriveNow's investors?
DriveNow has 1 investor. Key investors include BMW Group.
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