DriveU gets Rs 20 cr funding led by Amit Singhal, others

DriveU, an on-demand driver service aggregator platform, today said it has raised Rs 20 crore (USD 3 million) in funding, led by Amit Singhal of Singhal Foundation.

Current investors including Unitus Seed Fund participated in the pre-series A round, the company said in a statement.

With this funding, DriveU further strengthens its position to better serve both consumers and businesses across six major cities - Bengaluru, Mumbai, Chennai, Delhi NCR, Pune and Hyderabad - and beyond, it added.

"DriveU, having grown at 16 per cent month-over-month since inception has recently witnessed accelerated growth. The funds will allow us to further expand our reach and offerings to our customers," Rahm Shastry, CEO and co-founder at DriveU, said.

In February 2016, Unitus Seed Fund had led a USD 1 million seed investment round in DriveU.

******************* Cash Suvidha raises USD 1 mn in pre-series A funding *
The fresh capital will be used to increase the loan books of the company and to further strengthen its technological infrastructure, it said in a statement
******************* Roadcast raises USD 250,000 in angel funding *