About DriveU
DriveU is a company based in Bengaluru (India) founded in 2015 by Ashok Shastry.. DriveU has raised $8.8 million across 12 funding rounds from investors including SoftSol, Sitare Foundation and Subramanian Ganesan. The company has 148 employees as of April 04, 2024. DriveU has completed 3 acquisitions, including CallAtHome, Driverskart and Zuver. DriveU operates in a competitive market with competitors including Driverskart, DriverShaab, Drivers4Me, Zuver and Taxshe, among others.
- Headquarter Bengaluru, India
- Employees 148 as on 04 Apr, 2024
- Founders Ashok Shastry
- Stage Minicorn
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Sectors
Business ServicesTransportation, Automotive & Logistics
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Email
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Phone
*********
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Website
*********
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Social
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- Legal Name Humble Mobile Solutions Private Limited
- Date of Incorporation 17 Jul, 2015
- Jurisdiction Bangalore South, Karnataka, India
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Annual Revenue
$1.81 M (USD)4.7as on Mar 31, 2023
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Net Profit
$-276.41 K (USD)34.79as on Mar 31, 2023
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EBITDA
$-196.81 K (USD)43.65as on Mar 31, 2023
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Total Equity Funding
$8.8 M (USD)
in 12 rounds
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Latest Funding Round
$49.07 K (USD), Angel Round
Sep 08, 2021
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Investors
SoftSol
& 44 more
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Employee Count
148
as on Apr 04, 2024
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Investments & Acquisitions
CallAtHome
& 2 more
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Funding Insights of DriveU
DriveU has successfully raised a total of $8.8M across 12 strategic funding rounds. The most recent funding activity was a Angel Round round of $49.07 thousand completed in September 2021. 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 12
- Last Round Angel Round — $49,073
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First Round
First Round
(26 Sep 2015)
- Investors Count 45
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2021 | Amount | Angel Round - DriveU | Valuation | Subramanian Ganesan |
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| Jun, 2021 | Amount | Series B - DriveU | Valuation | Manoj Sumatilal Gandhi | |
| Jun, 2020 | Amount | Series B - DriveU | Valuation | Capria |
| 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 DriveU
DriveU has secured backing from 45 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include SoftSol, Sitare Foundation and Subramanian Ganesan. 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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Venture capital firm investing in applied generative AI
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Founded Year | Domain | Location | |
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Venture capital investments are directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Supporting startups with India scale and global potential through venture advisory and partnerships.
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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 DriveU
DriveU has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include CallAtHome, Driverskart and Zuver. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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On-demand personal chauffeur services are provided via a mobile app.
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2015 | ||||
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On-demand driver services are provided for customers in India.
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2015 | ||||
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On-demand chauffeur services are booked via mobile app in Gurugram.
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - DriveU
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| 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 |
Driveu Comparisons
Competitors of DriveU
DriveU 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 Driverskart, DriverShaab, Drivers4Me, Zuver and Taxshe, 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 |
On-demand personal chauffeur services are provided via a mobile app.
|
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| domain | founded_year | HQ Location |
On-demand drivers are booked via a mobile application platform.
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| domain | founded_year | HQ Location |
On-demand drivers are booked via an online platform for users.
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| domain | founded_year | HQ Location |
On-demand driver services are provided for customers in India.
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| domain | founded_year | HQ Location |
Female chauffeurs are booked online for intra-city travel needs.
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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 Driveu
Frequently Asked Questions about DriveU
When was DriveU founded?
DriveU was founded in 2015.
Where is DriveU located?
DriveU is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of DriveU?
Ashok Shastry is the current CEO of DriveU. They have also founded this company.
Is DriveU a funded company?
DriveU is a funded company, having raised a total of $8.8M across 12 funding rounds to date. The company's 1st funding round was a Series B of $383K, raised on Sep 26, 2015.
How many employees does DriveU have?
As of Apr 04, 2024, the latest employee count at DriveU is 148.
What is the annual revenue of DriveU?
Annual revenue of DriveU is $1.81M as on Mar 31, 2023.
What does DriveU do?
Founded in 2015 and based in Bengaluru, India, DriveU operates as a marketplace in the on-demand mobility sector. Drivers are booked by users for local and outstation rides, with verification of backgrounds and insurance coverage ensured. Additional services such as real-time tracking, reward programs, fast tag recharges, and car washes are offered to support trip management and user convenience.
Who are the top competitors of DriveU?
DriveU's top competitors include DriverShaab, Drivers4Me and Driverskart.
How many acquisitions has DriveU made?
DriveU has made 3 acquisitions, including CallAtHome, Driverskart, and Zuver.
Who are DriveU's investors?
DriveU has 45 investors. Key investors include SoftSol, Sitare Foundation, Subramanian Ganesan, Hegde Family Revocable Trust, and Preeth Chengappa.
What is DriveU's valuation?
The valuation of DriveU is $16.46M as of Sep 2021.