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Acquisitions

DriversKart Acquires On-Demand Driver Service Provider

DriversKart Acquires On-Demand Driver Service Provider
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DriversKart, an innovative startup based out of Chennai, has acquired a Mumbai-headquartered on demand driver provider, Driven.

Prior to the acquisition, DriversKart had recently raised an undisclosed amount of funding from ah!Ventures and few other investors as a part of its Pre-Series A round.

Commenting on the acquisition of Driven, Vinit Srivastava, Co-founder and CEO of DriversKart said, “Driven has a very strong team and good presence in the Mumbai consumer market and there is immediate value in this deal for DriversKart. We get access to a team who was equally excited and passionate about this space and have had tremendous learnings in the short span of time.”                                  

Founded in September 2015, DriversKart is already operational in 5 major cities; Bangalore, Mumbai, Pune, Delhi and Chennai. Answering the niche demand for today’s incessant travel needs, this startup provides on-demand chauffeur service. With the strong team of 20 employees, startup is currently servicing 10,000 rides a month.

It has been efficiently catering to the B2C as well as the B2B market in India and has been the preferred driver provider for self-drive car-rental company like Zoomcar, JustRide, etc. This growth shall be even more accelerated given that Driven, is already a strong player in a key geography like Mumbai and is currently serving almost 1000 customers per month.

“We believe that this acquisition helps Driven be part of a bigger brand and together will provide greater reach across the country,” said Shivalik Sen, Founder and CEO, Driven.

The acquisition deal was a combined equity and cash deal. This acquisition, in the wake of the recent fund infusion, stands to be pivotal part in the expansion plans of DriversKart. This move, closely following its Pre Series A round of funding, makes DriversKart a market leader in India’s thriving, on-demand driver marketplace.

Giving an investor's perspective on the acquisition by DriversKart, Harshad Lahoti, Founder and CEO, ah! Ventures said, “ah! Ventures being one of the key investors in the recent round raised for DriversKart, we can firmly say that the acquisition is an astute move by the organization. It is perfectly in congruence with the overall expansion plans and helps DriversKart make a mark in a key geography like Mumbai, not only in terms of the service but also in terms of brand exposure to a larger audience. The business acumen and single minded focus of the DriversKart team definitely shows a positive future for the company.”

Edition: December 2016

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