Singaporean and Australian car-sharing platform Drive lah successfully raises US$5 million in an investment round led by major transport player ComfortDelGro.
Singapore- and Australia-based car-sharing platform Drive lah has closed a US$5 million investment round, with ComfortDelGro, a prominent player in the transport industry, investing US$2 million of the total.
Through this investment, ComfortDelGro will also become the preferred fleet partner for Drive lah and its Australian counterpart, Drive mate. This collaboration aims to enhance car connectivity, navigation technology, and the provision of vehicles to Drive lah’s platforms. Their goal is to ensure the sustainability of car-sharing and subscription services in the Asia Pacific region.
Drive lah, founded in 2019 by Gaurav Singhal and Dirk-Jan ter Horst, is a peer-to-peer car-sharing platform boasting over 200,000 registered users and a fleet of more than 2,000 cars. This recent funding round follows a pre-Series A round in 2021 in which the company secured US$3.2 million, led by Nityo Infotech’s corporate venture arm.
Drive lah envisions a society where sharing vehicles becomes the norm, and everyone can access a variety of cars at the click of a button facilitated by smart technology making for a hassle free experience. Singapore has 11,520,548 of unused car hours per day, so the car-sharing platform has made it its mission to reduce that number by enabling people to share their car when they do not need it.
ComfortDelGro is one of the largest transport companies in the world encompassing bus, taxi, rail, car rental and leasing, automotive engineering services, inspection and testing services, driving centres, non-emergency patient transport services, insurance broking services and outdoor advertising. By anticipating their customers’ needs, they are constantly working to provide outstanding services and expand their portfolio.
Featured banner image credit: beamstart.com