About Udrive
Udrive is a company based in Dubai (United Arab Emirates) founded in 2016.. Udrive has raised $17.3 million across 6 funding rounds from investors including OHI Group, Dubai Cultiv8 and Sheikh Saeed bin Ahmed Al Maktoum. Udrive offers products and services including Udrive App. Udrive operates in a competitive market with competitors including TIER, Finalrentals, Indigo Rent A Car, Autorent and Carre Mobility, among others.
- Headquarter Dubai, United Arab Emirates
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Sectors
Travel & HospitalityTransportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name U Drive Rent A Car L.L.C
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$17.3 M (USD)
in 6 rounds
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Latest Funding Round
$5 M (USD), Series B
Feb 21, 2022
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Investors
OHI Group
& 2 more
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Employee Count
Employee Count
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Products & Services of Udrive
Udrive offers a comprehensive portfolio of products and services, including Udrive App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mobile app for renting cars by the minute with free perks.
Funding Insights of Udrive
Udrive has successfully raised a total of $17.3M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $5 million completed in February 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 6
- Last Round Series B — $5.0M
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First Round
First Round
(01 Jun 2017)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2022 | Amount | Series B - Udrive | Valuation | OHI Group of Companies , Dubai Cultiv8 |
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| Jul, 2021 | Amount | Series B - Udrive | Valuation |
investors |
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| Dec, 2020 | Amount | Series B - Udrive | Valuation |
investors |
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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 Udrive
Udrive has secured backing from 3 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include OHI Group, Dubai Cultiv8 and Sheikh Saeed bin Ahmed Al Maktoum. 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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Dubai Cultiv8 is engaged in Shariah-compliant asset management.
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Founded Year | Domain | Location | |
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A leading private conglomerate in Oman, operating across multiple sectors.
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Founded Year | Domain | Location | |
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SS
Sheikh Saeed bin Ahmed Al Maktoum |
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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 Udrive
| 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 - Udrive
| 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 |
Udrive Comparisons
Competitors of Udrive
Udrive 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, Finalrentals, Indigo Rent A Car, Autorent and Carre Mobility, 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 |
Electric kick-scooters are rented through a mobile app platform.
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| domain | founded_year | HQ Location |
Meta-search platform for car rentals
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| domain | founded_year | HQ Location |
Provides an app-based platform for convenient car rental services.
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| domain | founded_year | HQ Location |
Operates an online platform for station-based car rentals.
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| domain | founded_year | HQ Location |
Multi-category self-driven vehicle rentals and car-pooling are provided online.
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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 Udrive
Frequently Asked Questions about Udrive
When was Udrive founded?
Udrive was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Udrive located?
Udrive is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Is Udrive a funded company?
Udrive is a funded company, having raised a total of $17.3M across 6 funding rounds to date. The company's 1st funding round was a Series B of $1.3M, raised on Jun 01, 2017.
What does Udrive do?
Founded in 2016 in Dubai, United Arab Emirates, Udrive operates as an app-based platform in the car rental sector. Vehicles are located, booked, and unlocked by users through the app using an OTP. Rides are completed by driving to destinations, with vehicles left in legal parking spots. The mobile application is provided for both Android and iOS devices, supporting self-drive services across the region.
Who are the top competitors of Udrive?
Udrive's top competitors include TIER, Finalrentals and Carre Mobility.
What products or services does Udrive offer?
Udrive offers Udrive App.
Who are Udrive's investors?
Udrive has 3 investors. Key investors include OHI Group, Dubai Cultiv8, and Sheikh Saeed bin Ahmed Al Maktoum.
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