DRIVEZY CASE STUDY
DRIVEZY CASE STUDY, FUNDING, BUSINESS MODEL, REVENUE MODEL, INVESTORS, COMPETITOR
Co-Founder and CEO: Ashwarya Pratap Singh
DRIVEZY BUSINESS MODEL
Drivezy is an online platform that allows users to discover and book for self-driving rental cars and two-wheelers.
STORY BEHIND THE IDEA DRIVEZY
The concept of ridesharing during this time that Ashwarya Pratap Singh’s new Ford Figo met with an accident.
Ashwarya Says, “I barely used my car for more than an hour a day, and I spent a good [art of my salary to maintain the vehicle. The accident made me realize that a lot of people my age might be facing the same conundrum”.
This was the lightbulb moment for Ashwarya, who was joined by his college friends Hemant Kumar Sah, Vasant Verma, And Amit Sahu to come up with a new concept: JustRide. The platform allowed people to rent cars to self-drive.
Initially, they began with leasing around 250 cars. Today, the platform, which has been re-branded as Drivezy, has expanded its services to include 4,000 cars and 16,000 two-wheelers.
FUNDING
Drivezy Total Funding: $148.4M
In Nov 2015, it achieves $2M Seed funding.
In March 2017, it achieves $400K Seed funding.
In Nov 2016, it achieves $3M led by SUSA, Kima Ventures, Y Combinator.
In Oct 2017, it achieves $5M led by IT-FARM.
In Feb 2018, $5M in Initial Coin Offering.
In Apr 2018, $8M in Initial Coin Offering.
In Nov 2018, $20M in Series B led by Das Capital, Yamaha, and It-Farm.
In Nov 2018, $100M.
INVESTORS
SUSA, Das Capital, Yamaha, and It-Farm.
ESTIMATED ANNUAL REVENUE
$4M
DISCOVER
FOUNDED: 2014
CO-FOUNDER: Ashwarya Pratap Singh
HEADQUARTERS: Bangalore, Karnataka
EMPLOYEES: 500+
Industry Sector: Road Transportation.
CARS: 4,000+
TWO WHEELERS: 16,000+
FACEBOOK FOLLOWER: 183,468
TWITTER FOLLOWER: 200+
COMPETITORS
Zoomcar, Volercars, Revv, Selfdrive, Let me drive, OLA, Micar, BlaBlaCar, U-drive, and AVIS.
Thanks for reading
DRIVEZY CASE STUDY, FUNDING, BUSINESS MODEL, REVENUE MODEL, INVESTORS, COMPETITOR