About DriveX
DriveX is a Transportation, Automotive & Logistics company based in Bengaluru (India) founded in 2020 by Christopher Sargunam, Hormazd Sorabjee, and Narain Karthikeyan, and was acquired by TVS Motor Company in November 2024. Vehicle subscriptions are managed via an online booking platform. It operates on a Direct-to-Consumer (D2C) and Two-Sided Marketplace model. DriveX has raised $10.8 million across 2 funding rounds from investors including TVS Motor Company, Harulika Ventures and Mansi Gandhi. The company has 339 employees. DriveX was last valued at $21.38 million in August 2022. Its chief executive, as recorded, is Prasad Salunke. Its website drivex.in draws about 309 thousand monthly visits. Its Indian entity Drivex Mobility Private Limited reported revenue of ₹74.35 Cr. DriveX offers products and services including Used Two-Wheelers, Two-Wheeler Service, and Vehicle Financing. Its focus areas include Automotive, Two-Wheeler Retail and Used Vehicle Sales. Its competitors include Droom, CredR and BeepKart; 3 of its 3 listed competitors have raised funding.
Company details
DriveX is involved in the sale of refurbished two-wheelers that are presented as good as new, complete with warranties and free services. The company also facilitates the selling process for owners through doorstep evaluations and hassle-free documentation. Additionally, maintenance services are provided with a focus on reliability and affordability. Financing solutions are offered to support purchases with up to 85 coverage. The operations are centered in the automotive sector, specifically targeting the used two-wheeler market in India.
- Headquarters Bengaluru, India
- Employees 339
- Founders Christopher Sargunam, Hormazd Sorabjee, Narain Karthikeyan
- Stage Acquired
- SectorsTransportation, Automotive & Logistics
- Website category Vehicles · Motorcycles
- Email••••••••
- Phone•••• ••••
- Website drivex.in
- Social LinkedIn X Facebook Instagram YouTube
- Acquired by TVS Motor Company (Nov 2024)
- Legal Name Drivex Mobility Pvt. Ltd.
- Date of Incorporation 01 Apr, 2020
- Jurisdiction Coimbatore, Tamil Nadu, India
- Annual Revenue₹74.35 Cr
FY 2026 · +22% YoY
- Net Loss-₹49.93 Cr
FY 2026 · -68% margin
- EBITDA-₹56.61 Cr
FY 2026 · -77% margin
- Total Equity Funding$10.8M (USD)
in 2 rounds
- Latest Funding Round$10.6M (USD), Series A
Aug 2022
- InvestorsTVS Motor Company
& 6 more
- Employee Count339
- Acquired byTVS Motor Company
(Nov 2024)
Associated legal entities of DriveX
DriveX operates through Drivex Mobility Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Drivex Mobility Private Limited CIN U63040KA2020PTC226231 | Active | 01 Apr 2020 | Coimbatore, Tamil Nadu | ₹74.4 Cr | 139 | 9 | View details |
Products & Services of DriveX
DriveX offers a comprehensive portfolio of products and services, including Used Two-Wheelers, Two-Wheeler Service, and Vehicle Financing.
Refurbished two-wheelers are sold with warranty included.
Maintenance services are provided for two-wheelers affordably.
Financing options are offered for two-wheeler purchases.
Apps and channels of DriveX
its YouTube channel DriveX has 14 subscribers.
Funding Insights of DriveX
DriveX has successfully raised a total of $10.8M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $10.6 million completed in August 2022. 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 $10.8M
- Total Rounds 2
- Last Round Series A — $10.6M
- First Round $198,935
(Feb 2022)
- Investors Count 7
All 2 funding rounds of DriveX with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2022 | $10.6M | Series A | $21.38M | TVS Motor Company | |
| Feb 2022 | $198,935 | Angel Round | $8.82M | Mansi Gandhi, Vijay Sarathi Krovvidi | – |
| Date | Valuation | Stage |
|---|---|---|
| Aug 2022 | $21.38M | •••••••• |
| Feb 2022 | $8.82M | •••••••• |
Last known valuation $21.38M (Aug 2022). 7 investors in total: 2 institutional and 5 angel.
Investors in DriveX
DriveX has secured backing from 7 investors, including institutional and angel investors. Prominent investors backing the company include TVS Motor Company, Harulika Ventures and Mansi Gandhi.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Two-wheeler and three-wheeler vehicles are manufactured, including bikes and scooters. | 1911 | tvsmotor.com | Hosur, India | |
MG Mansi Gandhi | Angel investor focusing on early-stage startups in India, ex-entrepreneur. | unknown_7fb1252832d84312b | ||
VS Vijay Sarathi Krovvidi | unknown_eea8359d43964623a | |||
AR Alok Rajesh Nanavaty | unknown_f65bfb21ac984ad2a | |||
SP Shah Prashant Viresh | unknown_08e9ad84618244408 | |||
DS Dhruv Sawhney | Angel investor and entrepreneur, focused on tech startups in India. | unknown_c564ba6a51fb413aa |
Investor details for DriveX
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Drivex Mobility Private Limited (DriveX)
Drivex Mobility Private Limited is the primary company behind DriveX. The board of Drivex Mobility Private Limited currently have 6 directors; the longest-serving is Kumarramnarain, appointed in 2020. 17 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Kumarramnarain DIN 01587897 | Director | 09 Sep 2020 | 6 yrs 2 mo | Drivex Mobility Private Limited |
| Gopalan Parthasarathy DIN 01769831 | Director | 15 Oct 2022 | 4 yrs | Drivex Mobility Private Limited |
| Anuraag Agarwal DIN 06379359 | Director | 15 Oct 2022 | 4 yrs | Drivex Mobility Private Limited |
| Sharad Mohan Mishra DIN 09772241 | Director | 28 Oct 2022 | 4 yrs | Drivex Mobility Private Limited |
| Hormazd Soli Sorabjee DIN 00593311 | Director | 24 Feb 2023 | 3 yrs 8 mo | Drivex Mobility Private Limited |
| Seeplaputhur Ganapathiramaswamy Murali DIN 00348902 | Director | 30 Apr 2024 | 2 yrs 6 mo | Drivex Mobility Private Limited |
People of DriveX
94 people are tracked at DriveX (23 in leadership, 71 in team); the tracked headcount is 339.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
Narain Karthikeyan | Co-Founder | Leadership |
Prasad Salunke | CEO | Leadership |
Sadguru Swamy M | Head Of Human Resources | Leadership |
Sanchet Kumar | Head - PaaS / FOFO ROI | Leadership |
Devesh Taparia | Chief Executive Officer | Leadership |
Roshan Bindra | Deputy Manager - HR Business Partner & Talent Acquisition | Leadership |
Stanley | Section Head | Leadership |
Devaiah BP | Sr. General Manager - Operations | Leadership |
Richika Arora | Associate Vice President - Digital Marketing | Leadership |
Harisha K | CFO | Leadership |
Saran Samiappan | Vp, Head - Drivex Direct | Leadership |
Viswanathan Sundaresan | Vice President Of Software Development | Leadership |
Prateek Anand Singh | Head - Procurement | Leadership |
Bhaswar Bhadra | Vice President Of Manufacturing | Leadership |
M Sankar | Chief Manager | Leadership |
Pranav Dattatrya Salunke | Chief Manager | Leadership |
Ashish A M | Chief Manager - Content | Leadership |
Sidduraj M K | Chief Manager | Leadership |
74 more people are available in the full profile.
Complete people profiles for DriveX
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of DriveX
Figures of Drivex Mobility Private Limited, the primary company behind DriveX, for FY 2026. Revenue was ₹74.35 Cr (+22% year on year). Net loss was -₹49.93 Cr (-68% margin). EBITDA was -₹56.61 Cr (-77% margin). Revenue has grown at a compounded annual rate of +97% over three years and +174% over five years.
- ₹74.35 CrRevenue · FY 2026 · +22% YoY
- -₹49.93 CrNet loss · -68% margin
- -₹56.61 CrEBITDA · -77% margin
- ₹3 LakhPaid-up capital
- 139Employees (provident fund records)
- +97%Revenue CAGR, 3 years
- +174%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Drivex Mobility Private Limited are on its company page.
Detailed financial statements for DriveX
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of DriveX
5 dated milestones of DriveX across 4 years, from founding to its latest funding, stage changes and deals.
- Founded DriveX is founded.
- Funding First funding round of $199K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $10.6M.
- Exit Acquired by TVS Motor Company.
Competitors of DriveX
DriveX has 3 listed competitors in our database, 3 of them funded. They include Droom, CredR and BeepKart.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| droom.in | 2014 | Gurugram, India | $344.27M | 156 | Used vehicles are bought and sold through an AI platform. | |
| credr.com | 2015 | Bengaluru, India | $42.14M | 9 | Second-hand bikes are bought and sold via an online marketplace. | |
| beepkart.com | 2020 | Bengaluru, India | $18.76M | 92 | Used two-wheelers are sold via an online digital platform. |
Detailed competitors of DriveX
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of DriveX
The website of DriveX (drivex.in) receives about 308.5K visits a month and ranks #136,057 among all websites worldwide, #2,900 in Motorcycles.
- Monthly visits308.5K
▲ 8.8% vs previous month
- Unique visitors147.3K
per month
- Global rank#136,057
among all websites
- Category rank#2,900
Vehicles · Motorcycles
- Bounce rate16%
- Pages per visit3.9
- Average visit2 min 55 sec
- DevicesDesktop 17% · Mobile 83%
Websites whose visitors overlap most with DriveX. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| bikedekho.com | 100% | 13.5M | #3,442 | View details | |
| bikewale.com | 85% | 62M | #701 | View details | |
| credr.com | 83% | 3.4K | View details | ||
| bikes4sale.in | 83% | 822.8K | #64,512 | View details | |
| wheelsoftrust.com | 78% | #112,423 | View details | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 35 similar websites and full traffic analytics for DriveX
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 35 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Automotive Retail & Aftersales
3 companies that operate in the same segment as DriveX (Automotive Retail & Aftersales) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
General and life insurance products are provided across multiple categories. | 2016 | Bengaluru, Karnataka, India | USD 462.45 M | USD 1.12 B | 4,589 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
Retailer of inspected, certified pre-owned vehicles with service and finance options | 2015 | Gurugram, Haryana, India | USD 741.46 M | USD 446.48 M | 5,812 |
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Related news about Drivex
Complete news archive for DriveX
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Frequently Asked Questions about DriveX
DriveX was founded in 2020 and raised its 1st funding round 2 years after it was founded.
DriveX is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Prasad Salunke is the CEO of DriveX, as recorded in our data.
DriveX is a funded company, having raised a total of $10.8M across 2 funding rounds to date. The company's 1st funding round was a Angel Round of $198.94K, raised on Feb 2022.
DriveX has 339 employees.
The primary company behind DriveX, Drivex Mobility Private Limited, reported revenue of ₹74.35 Cr for FY 2026, up 22% year on year.
DriveX is involved in the sale of refurbished two-wheelers that are presented as good as new, complete with warranties and free services. The company also facilitates the selling process for owners through doorstep evaluations and hassle-free documentation. Additionally, maintenance services are provided with a focus on reliability and affordability. Financing solutions are offered to support purchases with up to 85 coverage. The operations are centered in the automotive sector, specifically targeting the used two-wheeler market in India.
DriveX offers Used Two-Wheelers, Two-Wheeler Service, and Vehicle Financing.
DriveX has 7 investors. Key investors include TVS Motor Company, Harulika Ventures, Mansi Gandhi, Vijay Sarathi Krovvidi, and Alok Rajesh Nanavaty.
The valuation of DriveX is $21.38M as of Aug 2022.
DriveX operates through Drivex Mobility Private Limited.