Car-sharing Marketplace Drive lah Raises $5 Million in Funds
By: Asia Business Outlook Team | Friday, 27 October 2023
In an impressive feat, Drive lah, a Singapore-based marketplace for car-sharing, has triumphantly garnered a $5 million investment in its latest funding round. On October 26, Drive lah announced in a statement that ComfortDelGro (CDG), a Singaporean transportation company, has become the principal investor for this round of funding with a $2 million investment. Additionally, CDG has been selected as the preferred fleet partner for Drive lah.
Drive lah expressed its conviction in the market by endorsing this investment, demonstrating its determination to revolutionize urban transportation in the Asia Pacific (APAC) area. They believe this venture will unlock new opportunities for shared mobility solutions in Singapore, Australia, and other regions, promoting sustained progress and growth.
ComfortDelGro, as the primary investor and fleet partner, will engage in a comprehensive partnership with Drive lah. The collaboration will primarily revolve around enhancing car connectivity and navigation technology while also providing vehicles for Drive lah's platforms.
Drive lah is leading the way in the car-sharing industry with our innovative asset-light approach, spanning across various countries in the APAC region.
Gaurav Singhal, Co-Founder of Drive lah, expressed enthusiasm about the promising future ahead, brimming with abundant growth potential. He also expressed gratitude towards investors who share the same vision. Singhal highlighted their efforts to make car-sharing and subscription services more widespread and environmentally friendly in the APAC region.
In the pursuit of rephrasing the sentence in a different writing style, Dirk-Jan ter Horst, Co-Founder of Drive lah, asserted that the interconnectedness of various modes of transportation would shape the future of mobility.