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DriveU raises $3 million funding in Pre-Series A round

DriveU raises $3 million funding in Pre-Series A round led by multiple investors.
BY BEx Bureau
BusinessEx
Mar 27, 2018

After seeing growth in car rental market, entrepreneurs are now eyeing on drivers rental market. In this space, a Bengaluru-based on-demand driver aggregator startup DriveU has raised $3 million funding in pre-series A round led by a non-profit organisation Singhal Foundation. The other investors that also took part in the funding round were Unitus Seed Fund, Geoff Wooley of Patamar Ventures, Rajeev Madhavan of Clear Ventures and some silicon-valley based investors.

In 2015, the driver service provider DriveU was founded by Amulmeet Chadha, Ashok Shastry and Rahm Shastry. The startup offers drivers on rent on an hourly basis through its application and platform. The startup claims to have about 6,000 drivers and plans to expand it by 10,000 by the end of this year. The startup is currently operational in Delhi-NCR, Bengaluru, Chennai, Hyderabad, Pune and Mumbai.

Rahm Shastry said, "We are operating in six cites right now, doing about 1,000 trips a day. We plan to expand to another four to six cities while also growing vertically in these cities and investing in technological innovations."

In 2016, the startup also raised seed funding of $1 million from Unitus Seed Fund.

In this market, the startup has made three acquisitions that are CallAtHome, DriversKart and Zuver.

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