About Sheerdrive
Sheerdrive is a company based in Mumbai (India) founded in 2019 by Mahesh Kale, Ravi Mehra, and Sajid Kakti.. Sheerdrive has raised $2.46 million across 3 funding rounds from investors including Group Landmark, Enam Holdings and OldSold. The company has 118 employees as of April 11, 2024. Sheerdrive operates in a competitive market with competitors including Drivin Dealer, 2trde, Auction Edge, Xcira and Dealer Simplified, among others.
- Headquarter Mumbai, India
- Employees 118 as on 11 Apr, 2024
- Founders Mahesh Kale, Ravi Mehra, Sajid Kakti
- Stage Minicorn
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Sectors
Transportation, 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 Sheerdrive Private Limited
- Date of Incorporation 13 Aug, 2019
- Jurisdiction Showroom Metro Estate Kalina Mumbai, Maharashtra, India
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Annual Revenue
$22.18 M (USD)43.5as on Mar 31, 2023
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Net Profit
$-766.07 K (USD)-93.21as on Mar 31, 2023
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EBITDA
$-771.19 K (USD)-97.14as on Mar 31, 2023
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Total Equity Funding
$2.46 M (USD)
in 3 rounds
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Latest Funding Round
$1.44 M (USD), Seed
Nov 26, 2022
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Investors
Group Landmark
& 75 more
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Employee Count
118
as on Apr 11, 2024
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Funding Insights of Sheerdrive
Sheerdrive has successfully raised a total of $2.46M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $1.44 million completed in November 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 Total Funding
- Total Rounds 3
- Last Round Seed — $1.4M
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First Round
First Round
(12 Nov 2020)
- Investors Count 76
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2022 | Amount | Seed - Sheerdrive | Valuation | JITO Incubation & Innovation Foundation , Inflection Point Ventures | |
| May, 2021 | Amount | Seed - Sheerdrive | Valuation | Volrado Venture Partners | |
| Nov, 2020 | Amount | Seed - Sheerdrive | Valuation | Landmark Cars |
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| 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 Sheerdrive
Sheerdrive has secured backing from 76 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Group Landmark, Enam Holdings and OldSold. 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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Multiple sectors are incubated by the foundation in Mumbai, India.
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Founded Year | Domain | Location | |
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Early-stage investments in multiple industries are targeted by the firm.
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Founded Year | Domain | Location | |
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Investments are made in early-stage tech startups across sectors.
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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 Sheerdrive
| 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 - Sheerdrive
| 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 |
Sheerdrive Comparisons
Competitors of Sheerdrive
Sheerdrive 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 Drivin Dealer, 2trde, Auction Edge, Xcira and Dealer Simplified, 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 |
Online platform for automotive dealers to acquire used cars
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| domain | founded_year | HQ Location |
SaaS mobile applications for automobile marketing management are offered.
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| domain | founded_year | HQ Location |
Auction management solutions are delivered via a tech-enabled platform.
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| domain | founded_year | HQ Location |
Auction management systems are provided for businesses in various industries.
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| domain | founded_year | HQ Location |
Provides software for managing vehicle auctions and dealership operations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Sheerdrive
Frequently Asked Questions about Sheerdrive
When was Sheerdrive founded?
Sheerdrive was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Sheerdrive located?
Sheerdrive is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Who is the current CEO of Sheerdrive?
Ravi Mehra is the current CEO of Sheerdrive. They have also founded this company.
Is Sheerdrive a funded company?
Sheerdrive is a funded company, having raised a total of $2.46M across 3 funding rounds to date. The company's 1st funding round was a Seed of $680.27K, raised on Nov 12, 2020.
How many employees does Sheerdrive have?
As of Apr 11, 2024, the latest employee count at Sheerdrive is 118.
What is the annual revenue of Sheerdrive?
Annual revenue of Sheerdrive is $22.18M as on Mar 31, 2023.
What does Sheerdrive do?
Provider of B2B auction based marketplace for pre owned vehicles. It is a digital AI and ML platform that enables OEMs, banks, NBFCs, and used vehicle dealers to streamline used vehicle programs. The product modules include vehicle inspection, repair estimate generation, preocurement management and more. The platform assists vehicle sellers in implementing end to end used vehicle management programs.
Who are the top competitors of Sheerdrive?
Sheerdrive's top competitors include Auction Edge, Drivin Dealer and Xcira.
Who are Sheerdrive's investors?
Sheerdrive has 76 investors. Key investors include Group Landmark, Enam Holdings, OldSold, KM Trans Logistics, and Pransh Capital Partners.
What is Sheerdrive's valuation?
The valuation of Sheerdrive is $11.79M as of Nov 2022.
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