The acquisition combines B2C strength of DriveU with B2B innovations of Zuver to serve customers in six largest Indian metros
12 July 2017, Bengaluru. DriveU, India’s first and largest on-demand driver aggregator acquires Mumbai-based Zuver, an on-demand driver service provider that primarily caters to the business segment, in an all-equity deal. Post-acquisition, Sovin Hegde and Sidhanth Mally, founders of Zuver, will join DriveU to focus on driver aggregation for the car rental/lease and service station verticals of the business.
With this acquisition, DriveU further strengthens its position to better serve both consumers and businesses across India’s six largest metro cities – Bengaluru, Mumbai, Chennai, Delhi NCR, Pune and Hyderabad.
“Zuver has been very successful with car dealerships, service stations and car rental/leasing companies in Mumbai, Pune and Bengaluru. Increasingly, businesses are demanding a national footprint for their on-demand driver needs. With this acquisition, DriveU will leverage Zuver’s strong suite to cater to customers across major metros that we operate in today,” said Ashok Shastry, Co-founder and COO at DriveU.
Zuver’s on-demand driver service allows enterprises to not staff their own full-time drivers, while successfully catering to a fluctuating demand on a daily basis. Currently, Zuver’s B2B business completes over 8,000 trips every month. It’s pan-India customers for car rental/lease service include multinational corporations such as Orix and Avis for chauffeured services and its service station clients include Volkswagen, Maruti Suzuki and Honda, to name a few.
“While Zuver focused to serve businesses, DriveU successfully captured a majority of the consumer segment with its superior tech and a simple value proposition. We decided to join forces with DriveU to expand the market for on-demand drivers across multiple verticals,” remarked Sovin Hegde, Co-founder at Zuver.
With this acquisition, DriveU now has over 6,000 drivers on its platform. The cross utilization of drivers between B2B and B2C lines of businesses optimizes DriveU operations and guarantee higher earnings for its drivers. The service station and dealer relationships that Zuver brings will serve as a foundation for DriveU’s vision of offering a platform for hassle-free and economical car ownership.
In February 2016, Unitus Seed Fund, India’s leading impact seed investor, led the first institutional round in DriveU. Subsequent investment from Unitus Seed Fund has provided DriveU the financial backing required to achieve cash flow break-even by early 2018.