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INDIAN (T)

Private driver service DriveU gets $3M funding

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The company has more than 6,000 drivers on its platform and plans to increase the number to more than 10,000 drivers by the end of 2018.
The company has more than 6,000 drivers on its platform and plans to increase the number to more than 10,000 drivers by the end of 2018.

Bengaluru-based Humble Mobile Solutions, which runs on-demand private driver service DriveU, has achieved the first closing of its pre-Series A funding of $3 million (about Rs 19 crore), led by Singhal Foundation, a non-profit organisation founded by Amit Singhal, who formerly served as senior vice-president, search at Google. Singhal Foundation works in the area of education for underprivileged children.

Other investors who participated in this funding were Unitus Seed Fund, Geoff Wooley of Patamar Ventures, Rajeev Madhavan of Clear Ventures and a few Silicon Valley-based investors. Both Wooley and Madhavan invested in their personal capacity. Earlier, in February 2016, Unitus Seed Fund, India’s leading impact seed investor, led a $1million seed investment in DriveU.

“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,” said DriveU CEO Rahm Shastry. The company has more than 6,000 drivers on its platform and plans to increase the number to more than 10,000 drivers by the end of 2018.

DriveU, founded in July 2015 by Rahm Shastry, Ashok Shastry, and Amulmeet Singh, has acquired three companies in this sector.



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