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On-demand driver solutions provider DriversKart raises funding from ah! Ventures, others

Image 02.jpgDriversKart, an innovative startup based out of Chennai, is soon becoming a superhero saviour for the commuters of today. This enterprise has recently closed an undisclosed amount of funding as a part of its Pre Series A round from ah! Ventures and others. In collaboration with ah! Ventures, this round was also led by Sidharth Pansari, Apurva Salarpuria, Saket Agarwal and Ayush Patni, Silicon Valley investors and was joined by Namit Agarwal.

Ah ventures Logo.jpgDriversKart, a fast growing start up from Chennai is taking the market by storm. It is accurately providing a much needed solution to a problem faced by commuting individuals. An on demand availability of drivers, be it for an occasional trip to the hospital or a daily necessity like office drop offs, DriversKart is successfully delivering value to these growing demands in the market.

Started in September 2015, this organization is already operational in 5 major cities; Bangalore, Mumbai, Pune, Delhi and Chennai and has a strong team of 20 employees. The operational model of DriversKart is simple,easy to use and is primarily dependent on its app, available on App store and Playstore. DriversKart, has shown us a promising future, mainly because it aims to solve an inherent problem. Their ability to efficiently replicate the driver-on-demand.

An integral part of the offering, is their quality. With highly verified drivers and a strict filtering process, all the drivers available are trained not only in terms of their driving capabilities but also in terms of their behavioural conduct and etiquettes. Kopal Maheshwari, the Head of Operations at DriversKart, firmly believes that the uniqueness of the offering comes from the fact that it is for the first time that an on-demand chauffeur service in India, is in addition to all the available services, offers a unique subscription service as well. The team at DriversKart is backed by their strong experience in the entrepreneurial process and hence their focus on quality service takes precedence over anything else.

The key idea of DriversKart was coined by its Founder and currently the CEO, Vinit Srivastava, an  IIM Calcutta alumnus with corporate and entrepreneurship experience of over 10 years. His firm belief in the concept of DriversKart, birthed from his thinking about experiencing and valuing one’s time.

Commenting on the urgent need for a product like DriversKart, Vinit Srivastava says, “There exists a latent demand for organized chauffeurs even among professionals who commute to work. With car density per 1000 people at mere 13, the car ownership will continue to see exponential growth resulting in time lost during traffic and parking. With on demand chauffeur, customers will be able to dedicate their time to add more value to their personal and professional life.” Vinit was joined by Saksham, an IIT Mandi alumnus, an expert in Mobility and currently the Chief Technical Officer at DriversKart.

This strong team has been cautiously and consistently maintaining a structured approach to its growth and development. The current funds raised, will constructively be utilized for a threefold purpose of technological enhancements, to enhance Driver On-boarding/Training and marketing and team building.

Image 01.jpgGiving an investor’s perspective, Harshad Lahoti, Founder and CEO of ah! Ventures said, “DriversKart, has shown us a promising future, mainly because it aims to solve an inherent problem. Their ability to efficiently replicate the drives-on-demand model across cities will help them to aggressively expand pan-India. The team at DriversKart is well equipped in terms of the operational wherewithal and the entrepreneurial acumen necessary to successfully operate & scale this business. ah! Ventures and its investors believe in the team and we confidently see this venture becoming a pioneer in the industry.”

ah! Ventures is India’s first full-spectrum startup investment network and platform comprising of over 700+ investors, including some of the renowned angels and early-stage VCs. CLUB ah! platform today has over 8000+ startups, 625+ seed/angel investors and over 75 VCs & institutional investors, making it one of the largest platform of investors and startups. The network also last year secured its first profitable exit from Ed-tech venture Harness Handitouch within 2 years of its investment. CLUB ah! has till date invested close to INR 75 crores in over 23 startups spread across varied industries and domains, including DriversKart.

While talking about the investment, investor Sidharth Pansari added, “I feel it is an excellent growth opportunity in today’s market with so many unused vehicles. This will promote effective use of resources & also create huge employment opportunities in the semi skilled space. This service will provide real-time personal drivers for short & long durations. DriversKart has the potential to be a huge disruptor in this segment”.

Taking this forward, another investor Namit Agarwal opined “Being chauffeur driven is soon going to be a necessity for those who value their time and peace of mind. DriversKart aims to address this need through their disruptive offering –  India’s first driver subscription service through their verified and trained drivers.”

Commenting on working with ah! Ventures, the team at DriversKart said, “We had quite a few angels who had committed and sought ah! Ventures assistance to close the gap. ah! Ventures understands the needs of the entrepreneurs and worked closely with us to provide access to high quality investors who understand the business and angel investing. The entire process has been seamless.”

ah! Ventures is in the process of closing 2 more deals in the coming weeks.

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