19 May 2016, CHENNAI: Chennai based on-demand driver solution provider has acquired Mumbai based start-up in a combined equity and cash deal.
This acquisition will help DriversKart in their growth as Driven is already a strong player in a key geography like Mumbai and is currently serving almost 1000 customers per month.
Commenting on the acquisition of Driven, co-founder and CEO of DriversKart Vinit Srivastava says, “Driven has a very strong team and good presence in the Mumbai consumer market and there is immediate value in this deal for DriversKart. We get access to a team who was equally excited and passionate about this space and have had tremendous learnings in short span of time.”
“We are quite excited about this development. We believe that this acquisition helps Driven be part of a bigger brand and together will provide greater reach across the country,” said Shivalik Sen, Founder and CEO of Driven.
Prior to this acquisition, DriversKart had recently raised an undisclosed amount of funding from ah! Ventures and few other investors through its funding rounds.
Started in September 2015, DriversKart was founded by serial entrepreneur Vinit Srivastava, former Jabong executive Lakshmi Potluri and former Cognizant executive Saksham Grover. The company is already operational in 5 major cities; Bangalore, Mumbai, Pune, Delhi and Chennai, has a strong team of 20 employees and is already servicing 10,000 rides a month. DriversKart has strong presence in B2B and B2C segment and competes with other companies like DriveU, Zimmber and Driver Bulao.