Drivezy operates a peer-to-peer car, bike and scooter rental platform where vehicle owners list idle vehicles for hourly, daily or monthly rentals. The platform’s pricing ranges roughly from 100–2,500 rupees per day depending on vehicle type. The company has been scaling its fleet and partnerships—vehicle listings have doubled since January and it added 3,000 scooters in Bengaluru and Hyderabad via a partnership with Honda Motorcycle and Scooter India. Drivezy plans aggressive expansion of its bike and scooter rental initiatives, targeting addition of 10,000 bikes next month and deployment of 50,000 vehicles over the next three years. Financially, the company has raised about $31 million to date and is using new funds to improve technology infrastructure and ramp up marketing to support growth. Drivezy aims to capture roughly 2% of vehicles sold into a shared model over three years and expand into new Indian cities including Delhi-NCR, Punjab and Rajasthan. Drivezy is an aggregator service for car and bike rentals that enables users to hire vehicles for self-drive by the hour, day, or week with home delivery. Led by CEO and co-founder Ashwarya Singh, the company operates in Mumbai, Bengaluru, Pune and Mysuru. Drivezy raised $10m in funding and announced the launch of an initial coin offering (ICO). The company intends to use the funds to expand into new markets across India and abroad. As part of its ICO plans, Drivezy aims to create rental coins, a private currency for its platform.

Total raised

$130M

Funding rounds

3

Latest round

Series B

Latest activity

Nov 2018