SG car-sharing platform banks $5m in ComfortDelGro-led round

Drive Lah co-founders Gaurav Singhal (left) and Dirk-Jan ter Horst / Photo credit: Drive Lah

ComfortDelGro seems to be increasing its involvement in the automotive startup space this year. The Singapore-based taxi firm backed mobility-focused impact fund Shift4Good in January and battery recycling startup Neu Battery Materials in July.

Most recently, ComfortDelGro invested US$2 million in Drive Lah. The cab company was the lead investor in the Singapore-based car-sharing platform’s latest funding round, which totaled US$5 million.

Funding details

• Funding amount: US$5,000,000
• Lead investors: ComfortDelGro
• Stage: Strategic investment

The two companies plan to collaborate on car connectivity and navigation tech initiatives.

ComfortDelGro Australia will also provide up to 3,000 vehicles for Drive Mate, which is Drive Lah’s brand in the country. However, it was not disclosed whether the companies will have a similar tie-up in Singapore.

The collaboration will begin in Sydney and Melbourne this quarter, Drive Lah said.

Founded in 2019 by Gaurav Singhal and Dirk-Jan ter Horst, Drive Lah allows car owners in Singapore and Australia to rent out their vehicles during idle times.

According to the company, it has onboarded over 200,000 registered users and more than 2,000 cars on its platform to date. Drive Lah also said it has grown 10x since its first funding round in early 2020, but it did not specify from which metric this growth was generated.

Drive Lah’s last fundraise was in 2021, when it secured US$3.2 million in a pre-series A round led by KFC Ventures.

See also: Mapping SEA’s auto startups: Competition drives push into financing, EVs gain ground

More details