Table of Contents
Introduction:
DriveU is the creator of an online system for arranging upon request drivers for use in private vehicle transportation. The business’s system enables customers to engage individual drivers at reasonable rates on a short-term and per-hour basis via a smartphone app for immediate vehicle driver hiring solutions, closest via GPS.
DriveU operates throughout numerous locations, with operational facilities open around the clock and driving associates on their network. The company’s transporting system upholds openness at all times and puts the requirements of the consumer foremost by developing a straightforward pricing structure according to usage, maintaining a high standard of assistance.
DriveU also utilizes technological advances to boost the productivity and profitability of the driving partners.
DriveU Case Study:
DriveU is a service for app-based vehicle reservations. Users had the ability to identify and reserve drivers using the app by entering information about their place of residence and kind of journey. It has advantages like certified drivers and continuous surveillance.
Users can discover drivers for both in- and out-of-town rides as well as for vetted drivers with clean driving records and covered trips.
Mobile phones and tablets with iOS and Android can use the application for mobile devices. Customers can use the DriveU mobile application to reserve and locate the closest accessible driver-partner.
It offers all relevant details, including the complete name of the driver, an image, a score, a contact number, how far they are from the user’s place of residence, and the projected arrival timing. Stevens Creek Ventures, Lead Angels Network, and Singhal Foundation have all invested in the business.
DriveU is India’s most significant, highly reliable, and most modern upon-request driver supplier that serves business-to-business (B2B) and business-to-customers (B2C).
With more than 210,000 drives completed, five thousand delighted consumers and more than a hundred businesses using The company’s services, the driver has created a scalable, favorable, cost-effective company structure.
The majority of the drivers that DriveU initially employed were driver controllers. The company conducted the first driver interviews and verification processes. Then they received training for DriveU’s methods.
When operations first began, the business only employed drivers with a minimum of four years of professional expertise. Additionally, they received behaviour training that covered topics including ways to interact with customers along with how to avoid using cell phones during rides.
DriveU Company Profile:
| Name Of the Company | DriveU |
| Founded Year | 2015 |
| Founder Of the Company | Rahm Shstry, Ashok Shastry |
| Competitors Of the Company | Driverskart, Zuver, Drivershaab |
| Website Of the Company | WWW.DRIVEU.IN |
| Country Of Origin | Bengaluru, India |
| Investors Of the Company | Venturefarmer, Unitus Ventures, Lead Angels, Infrastructure Leasing and Financial Services |
| Space Of the Company | B2C and B2C |
DriveU Name & Logo:
DriveU Founders:
The company has two founders, Mr Rahm Shastry and Ashok Shastry.
Rham Shatry: Rahm Shastry is the co-founder And executive chairman of DriveU. He is an Experienced executive with a track record of guiding businesses to viability and departures. His focus is on turning around businesses and starting new ones.
He holds a wide range of skills in general management, marketing, strategic planning, product development, and global business. He also possesses outstanding interpersonal, influencing, and reasoning abilities.
Rahm Shastry completed his bachelor’s in technology with electronics and communications from NIT, Karnataka. He then went to stony brook university for his higher education where he studied computer engineering.
Ashok Shastry: Ashok Shastry is the CEO and co-founder was driveU.
He completed his high school diploma from Sierra high school. Then he went to the united states to complete his bachelor’s at California state university- east bay, where he studied a bachelor of science in marketing and finance from 2008 to 2013.
After his education, he worked as a sales associate at T-mobile, mobile one LLC for 6 months. After that, he worked in equity residential and in taxis for sure. Lastly, he founded drive in 2015 in Bengaluru, India.
DriveU Services:
The different services offered by driveU are:
- Hiring drivers’FASTag recharge
- Car wash
- Car wash packages
- Car servicing
- Roadside assistance
DriveU Investors:
The company had a total of 43 investors, from which the company has raised a total funding of 8.86 million dollars over 13 rounds of funding.
Some prominent investors of driveU are:
- Infrastructure Leasing & Financial Services: Infrastructure Leasing and Financial Services Limited (IL&FS) is a significant infrastructure construction and financing firm in India. Catalyzing the nation’s construction of infrastructure is IL&FS’s specific mission.
The company has concentrated on the creation and marketing of infrastructure enhancement projects as well as the production of additional value banking services.
- Lead Angels: Lead Angels are India’s first independently operated investor system, created in 2014 by a trio of IIT Bombay graduates with the goal of enhancing early-stage venture capital results.
The group achieves this by offering investor members expert support in organisation appraisal and the day-to-day operations of the firms in its portfolio.
There currently exist in Mumbai, New Delhi, Ahmedabad, Bangalore, and Hyderabad, as the community has expanded quickly. Users of the community can view calls, films, and additional materials from sites within and outside of India.
- Unitus Ventures: Unitus Ventures is an Indian capital-raising company headquartered in Bangalore. The company favors investing in seed-stage and initial-stage enterprises.
The company looks to invest in India’s enterprise, customers, economic, medical services, technological industries, electronic commerce, TMT, technologically advanced production, business-to-business settlements, machine learning, automation, and tech-based industries.
DriveU Top News:
- DriveU and MyGate work together to meet the needs of the 25,000 societies across India that own cars.
By- Express Computer
- DriveU and Automovill have partnered to offer car services to all DriveU users through the DriveU app with a unified user interface.
By- Indianweb2
- ReadyAssist and DriveU Partner to Offer Special Weekend Roadside Assistance Plan
By- Carandbike
- The partnership between Driver Hire and Horizon Vehicle Management to expand services
By- Fleetworld.co.uk
- Weekly roundup of financing The week that Binny Bansal resigned, financial activity nearly came to a complete halt.
By- Your Story Media
- Stevens Creek Ventures contributes RS 7 crore to on-demand driver service company DriveU.
By- The Indian Wire
- DriveU and Acko General Insurance collaborate to offer automobile owners trip insurance.
By- Indiatimes
- DriveU receives an investment of Rs 20 crore from Amit Singhal and others.
FAQs about DriveU:
When was driveU founded?
The company was founded in 2015.
Where are the headquarters of driveU?
The company is located in Bengaluru, India.
How much funding is raised by driveU?
The company has raised a total funding of 8.86 million dollars.
What is the total valuation of driveU?
The total valuation of the company is 16.5 million dollars.
What are the market segments driveU operates in?
The company operates in the travel and hospitality tech, auto tech, transportation, and logistics tech markets.
Is driveU associated with any legal entity?
Yes, the company is associated with one legal entity called humble mobile solutions private limited.
Who are the board of directors of driveU?
The board of directors of the company is ram prasad shastry and ashok shastry.
How many investors does driveu have?
The company has a total of 43 investors
Who is the business unit head- new verticals of driveU?
The company’s business unit head is Parvez Ali.
Is driveU available on any social media platform?
Yes, the company is available on Twitter, LinkedIn, and Facebook.
Conclusion:
DriveU is an expert automobile driver assistance that enables users to contract with a temporary basis upon request driver at a reasonable cost while still traveling with the ease of their personal vehicles.
By employing best practices in technological advances, driver authentication, training techniques, and while driving commuting expertise, DriveU guarantees flawless client interaction. DriveU adheres to strict standards; it is required that all drivers undergo government and regional transportation department verification prior to being allowed to join the platform.
DriveU has an opportunity to greatly enhance driver earnings. DriveU enables drivers to start their own businesses and, in certain situations, considerably raises their earnings by 50% to 100% or more.
Through instruction on manners, sanitation, customer service, and other areas of the driver aggregating system, DriveU has the ability to increase wages while also enhancing the standard of living. The most notable distinction between DriveU and taxi-hailing applications is the supplier aspect of the company.
Few motorists in the nation are able to purchase a private vehicle. As a result, these businesses compel those drivers to accept EMI and down payment offers in order to get people to purchase their personal automobiles.
There was no labor shortage for DriveU drivers because they did not require a personal vehicle. DriveU has been in existence since July 2015 and has provided 100,000+ journeys in Six metropolitan areas, including Bengaluru, Chennai, Mumbai, Delhi NCR, Pune, and Hyderabad.
