Let’s driEV aims to make personal mobility greener in Tier II cities and beyond

In the bustling realm of urban Indian mobility marred by traffic snarls and pollution, Bhubaneswar-based Let's driEV hopes to reshape the mobility narrative by using sustainable solutions.

Founded in July 2020, Let's driEV offers an electric two-wheeler sharing platform that allows users to choose eco-friendly transportation for varying durations—from a day, to a month. The startup was founded by Ankur Patel (CEO), Priyadarshini Pradhan (Chief People Officer), Santwana Sagnika (tech lead), Anirban Mohanty (CMO), and Pawan Bagrecha (CFO)—all experienced professionals who realised the pressing need for a sustainable solution.

“We looked at our bustling cities and saw the chaos of traffic, the haze of pollution, and the heavy reliance on fossil fuels. This was the spark that ignited our mission,” says Patel.

“We aim to empower individuals with the choice of cleaner and more sustainable modes of urban travel making two-wheeler ownership redundant,” he adds.

While most of its business model is B2C, Let’s driEV does have a few B2B customers including Tata Projects and Khimji Jewellers. The company is also exploring last-mile delivery services to address the rapid growth of ecommerce in the country.

Let’s driEV—part of YourStory’s Tech30 cohort for 2023—currently has more than 11,000 customers on its platform, with over 1,900 people on its waitlist for its monthly subscription product.

Its business model is similar to Bounce and Yulu’s, except there are no pick-up and drop-off options. With driEV, one outright owns the e-scooter for the duration of the lease. Zypp, too, is a major B2B competitor in the segment.

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Let’s driEV’s e-scooters—which the company gets on lease—offer a range of around 50-75 kilometres per charging cycle, depending on the variant a user opts for.

The vehicles can be plugged into the commonly found EV charging stations, as well as charged at home.

Revenue model

Let’s driEV has several comprehensive revenue models contingent on the lease duration of the e-scooters. For example, its community model charges users according to the duration and distance per ride while its city model offers pricing for short-term, weekly, and monthly rentals.

The startup also earns via its B2B collaborations through fleet rentals and contractual arrangements for last-mile delivery services.

Additionally, the company has been earning through advertising and strategic partnerships.

In the last fiscal year, the startup recorded revenue of Rs 1.5 crore, with projections indicating surpassing this figure in the current fiscal year, already having generated Rs 1.3 crore.

To date, it has earned close to Rs 3.3 crore in revenue since its inception.

“Currently we’re in only one city—Bhubaneswar—and we want to expand our fleet size in the city to up to 2,000 vehicles. We then want to expand to three new cities in the upcoming fiscal year and add new revenue source which will be non-vehicular,” says Patel.

The startup is currently looking to raise funding to continue growing in Bhubaneswar, as well as expand into newer geographies.