Bengaluru-based DriveU raises seed funding from Unitus Seed Fund
On-demand private driver service DriveU has raised seed investment from Unitus Seed Fund. The platform says that it will utilise the funding to expand to new markets and to attract new customers.
Launched in July 2015, the Bengaluru-based platform offers a technology-driven, on-demand, affordable, private driver service.
“We aim to provide on-demand driver solutions to private-owned vehicle owners, who are largely been ignored in the sharing economy frenzy. Our effort will simultaneously provide solutions to driver category as well,” says Rahm Shastry, CEO, DriveU.
He explains that with DriveU, you don’t need to deal with a full-time driver and his absences; now a customer can hire a part-time driver-on-demand at an affordable cost. The team ensures seamless user experience by implementing the best practices in technology, driver verification, training methods and on-road commute experience. Customer safety is of utmost experience to DriveU and they follow stringent policies to get the drivers verified by police and RTO before registering them on the system.
The platform says that it is currently offering services across four cities - Bangalore, Chennai, Mumbai and most recently in Delhi. Until January 2016, DriveU has completed over 15,000 trips serving over 6,000 customers, of which over 60 per cent were women.
On funding, Will Poole, Unitus Seed Fund Co-Founder and Managing Partner says, “The firm’s stellar team, strong focus on technology and ability to innovatively solve the need for private car utilisation while also improving driver livelihoods is a model that we believe will be both scalable and profitable.”
When it comes to car ownership, India stands 160th globally, with 18 cars per 1,000 people. According to a rough estimate, the average level of ownership will increase to 35 cars per 1,000 people by 2025.
According to recent reports, there are more than 15 lakhs (1.5 million) private cars in Bengaluru and 30 per cent of the car owners are seeking drivers.