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Mobility

Accelerating Growth: ComfortDelGro Leads $5 Million Funding for Car-Sharing

Anuj Kumar Verma
Last updated: February 12, 2024 1:53 pm
Anuj Kumar Verma
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Boosting SG Mobility: ComfortDelGro Invests $5MA Powerful Mobility CombinationFunding detailsFuture of Transportation With Great Investment

Boosting SG Mobility: ComfortDelGro Invests $5M

ComfortDelGro, a company that provides taxi services in Singapore, is getting more involved in helping new companies in the automotive industry. 

Earlier this year, they supported a fund that focuses on improving transportation, and they also supported a company that recycles batteries. 

ComfortDelGro recently gave Drive Lah US$2 million. Drive Lah is a car-sharing platform in Singapore. 

ComfortDelGro was the main investor in Drive Lah’s newest funding round, where they raised a total of US$5 million. 

A Powerful Mobility Combination

Funding details

Funding amount: US$5,000,000 

Lead investors: ComfortDelGro 

Stage: Strategic investment 

The two companies want to work together on making cars smarter and easier to use. They will be working on things like helping cars talk to each other and finding the best way to get somewhere. 

ComfortDelGro Australia will give Drive Mate 3,000 vehicles to use in Australia. It is not known if they will also do this in Singapore. 

Drive Lah said that they will start working together in Sydney and Melbourne this quarter. 

Future of Transportation With Great Investment

Drive Lah was started by Gaurav Singhal and Dirk-Jan ter Horst in 2019. It helps people in Singapore and Australia who own cars to make money by renting out their cars when they are not using them. 

The company Drive Lah has said that it now has over 200,000 people who have signed up to use its service, and they have over 2,000 cars available to use. 

They have also grown a lot since they first got money in 2020, but they didn’t say exactly how much they have grown. 

Drive Lah raised money in 2021. They got $3.2 million from KFC Ventures to help them grow.

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