AAA Drivezy motorises $20m series B

Drivezy motorises $20m series B

Drivezy, an India-based vehicle rental services backed by crowdsourcing marketplace Crowdworks, has raised $20m in a series B round that featured automotive and motor manufacturer Yamaha, VC Circle reported yesterday.

Das Capital led the round which included fellow venture capital firms Axan Ventures and IT-Farm.

The company has also landed a $100m asset financing deal backed by payment technology provider Anypay, an existing investor in Drivezy.

Founded in 2015, Drivezy is an online peer-to-peer platform which enables users to rent out bikes and cars.

The funding will be used to expand into more cities and integrate new services. The company also plans to add more vehicles to its platform with the proceeds from the asset financing deal.

Drivezy is a graduate from Y Combinator’s accelerator program and internet technology provider Google’s Launchpad Accelerator program.

In October 2017, the company raised $10m from Das Capital, Axan Ventures, Crowdworks and IT-Farm.

The company raised $3m in a bridge round of funding in 2016. That round included manufacturing company SMC, a trio of partners from Y Combinator, Susa Ventures, Kima Ventures, Axan Ventures, IT-Farm and several angel investors.

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