Drivezy — the startup out of India that wants to turn private car usage on its head through a car-sharing network where people lend their cars and two-wheeled vehicles but also have options to use vehicles from a fleet managed by Drivezy — said it is raising more money as it gears up for the next stage of its expansion, including a launch in the US in coming weeks.
The company is in the process of raising $100 million in equity funding, plus another $400 million in asset financing, with the latter to help continue building out the inventory that sits alongside the vehicles provided by its users. This would technically be a Series C and is being raised at a $400 million valuation, the company confirmed to me.
“Currently” is the key word: Ankur Sengupta, who heads up business development for Drivezy, said in an interview that the startup will leave the round open for about a year and continue raising it on a rolling basis, with the valuation varying accordingly. “The valuation we are working at now is $400 million, but we will keep accepting investments, at different valuations,” he said.
(Note: This is not …read more
Source: Tech Crunch