SINGAPORE, Oct. 30, 2023 /PRNewswire/ -- Drive lah, also recognised as Drive mate in Australia, has successfully secured a US$5 million investment round. ComfortDelGro (CDG) has invested US$2 million, establishing them as the lead investor for this round and the preferred fleet partner for Drive lah. This investment showcases strong market confidence and aligns well with Drive lah's aspiration to redefine urban mobility across the APAC region, fostering continued growth and potential for shared mobility solutions in Singapore, Australia and beyond.
Founded in 2019, Drive lah is a pioneer in the asset-light car sharing domain of the Asia Pacific (APAC) region. As a shared mobility platform, Drive lah helps car seekers find nearby vehicles to rent while providing owners a way to earn. Drive lah has onboarded over 200,000 registered users to-date, has more than 2,000 cars on our platform, and has recorded a 10 times growth since first investors came on board in early 2020.
As the leading investor and a fleet partner, ComfortDelGro's collaboration with Drive lah will be a holistic one, with a focus on car connectivity and navigation technology as well as supplying vehicles to Drive lah's platforms. The collaboration will start this quarter in Sydney and Melbourne, with ComfortDelGro Corporation Australia progressively supplying up to 3,000 vehicles to the Drive mate platform, supporting the increase in demand for car sharing services in Australia.
ComfortDelGro Corporation Australia Chief Executive Officer, Mr Nicholas Yap, said: "As a lead investor and fleet partner, our collaboration with Drive mate will allow the two companies to shape urban mobility, particularly in Australia where we have a strong foothold operating buses, taxis and non-emergency patient transport. We look forward to working closely with Drive mate to enable seamless experience for the car owners and seekers on the car-sharing platform."
Mr Gaurav Singhal, co-founder of Drive lah, said: "Drive lah is at the forefront of the car sharing ecosystem with our asset-light model with footprint across multiple APAC countries. We are excited at our bright horizon full of expansive growth opportunities and happy that our investors share the same vision with us as we set the stage to make mobility solutions such as car sharing and subscription more ubiquitous and sustainable in the APAC region."
His co-founder, Mr Dirk-Jan ter Horst, added: "The future of mobility is interconnected. We're gearing up to lead the transformation towards a more connected and efficient transportation ecosystem in APAC. This success of this investment round is a testament to our shared commitment with our investors and strategic partners towards innovation and excellence."
About Drive lah / Drive mate
https://www.drivelah.sg/
https://drive-mate.com.au/
Drive lah, also known as Drive mate in Australia, stands at the forefront of the shared mobility sphere as a pioneering car sharing marketplace. With a solid footprint in Singapore and Australia, Drive lah is steering the shared mobility narrative towards more sustainable and community-centric models. The platform empowers car owners to monetise their vehicles during idle times, while offering renters a diverse selection of vehicles at competitive rates. Bolstered by a robust technology infrastructure and an intuitive user interface, Drive lah is altering the way individuals access and share vehicles. Drive lah's commitment to sustainability, authenticity, and innovation extends beyond immediate geographies as it envisions to becoming the preeminent shared mobility solution across the Asia- Pacific region.
For further clarification, please call:
Communications team
Drive lah Ventures Holding Pte Ltd
E: investors@drivelah.sg
