Drivezy, the car-sharing marketplace based out of India, recently fund raises $20 million during Series B financing that was led by Das Capital, an investment firm started by Shinji Kimura, a Japanese entrepreneur and investor.
The round also saw participation from Yamaha Motor Company, Axan Partners and IT-Farm. With this, the total capital raised by Drivezy stands at about $31 million.
ET was among the first to report Drivezy’s fund raise in its edition dated October 17. The round is expected to have valued the firm at about $100 million. ET however could not independently verify the valuation finalised for the latest round.
The Y Combinator-backed startup plans to use the funds raised to expand its marketplace into newer markets and integrate advanced services.
"With less than 8% of Indian citizens owning a car, the rapidly growing car and bike sharing industry could provide convenient and sustainable mobility to millions of urban Indian residents" said Drivezy CEO Ashwarya Singh "This fresh investment will allow us to cement our foothold as the market leader in a growing Indian vehicle sharing market"
“Over sixty years ago, Yamaha Motor was founded to explore what was possible on two wheels. This DNA is still with us as we invest globally in the future of urban mobility. We look forward to productive collaborations with the company ” said Amish Parashar, Partner at Yamaha Motor Ventures & Laboratory, Silicon Valley.
Read more here
Join us in Bangkok the 19th to the 22nd of March for the Property Portal Watch Conference.