DriveX - About the company
DriveX is an acquired company based in Bengaluru (India), founded in 2020 by Christopher Sargunam and Narain Karthikeyan. It operates as an Online retailer of certified, pre-owned two-wheeled vehicles and related services. DriveX has raised $10.8M in funding from TVS Motor Company, with last known valuation of $*****. The company has 63 active competitors, including 4 funded and 2 that have exited. Its top competitors include companies like Droom, BikeDekho and Vutto.
Company Details
Online retailer of certified, pre-owned two-wheeled vehicles and related services. The business facilitates buying, selling, and exchanging used bikes and scooters. It offers vehicle inspection, valuation, and documentation assistance. The business provides financing options and manages registration certificate transfers.
- Website
- www.drivex.in/
- Social
- Email ID
- *****@drivex.in
- Phone Number
- +91 **********
- Registered Address
- 484, KAMARAJ ROAD, UPPILIPALAYAM, Coimbatore, COIMBATORE, Tamil Nadu, India, 641015
Key Metrics
Founded Year
2020
Location
Bengaluru, India
Stage
Acquired
Total Funding
$10.8M in 2 rounds
Latest Funding Round
Last Known Valuation
$***** as on Nov 30, 2024
Investors
Ranked
2nd among 63 active competitors
Annual Revenue
₹60.8Cr as on Mar 31, 2025
Employee Count
156 as on Jun 30, 2023
Exit Details
Acquired by TVS Motor Company (Nov 30, 2024)
Legal entities associated with DriveX
DriveX is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
DRIVEX MOBILITY PRIVATE LIMITED CIN: U63040TZ2020PTC033680 , India, Active | Apr 01, 2020 | $7.19M (As on Mar 31, 2025) | - |
DriveX's acquisition details
DriveX got acquired by TVS Motor Company on Nov 30, 2024 at an acquisition amount of $*****.
Click here to take a look at DriveX's acquisition in detail
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DriveX's funding and investors
DriveX has raised a total funding of $10.8M over 2 rounds. Its first funding round was on Feb 25, 2022. Its latest funding round was a Series A round on Aug 24, 2022 for $*****. 2 investors participated in its latest round. DriveX has 2 institutional investors and 7 angel investors.
Here is the list of recent funding rounds of DriveX:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Aug 24, 2022 | 5186221 | Series A | 2986113 | 3530675 | 9814867 | 6216330 |
Feb 25, 2022 | 5210242 | Angel | 7513009 | 3059209 | 4919723 |
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DriveX's founders and board of directors
Founder? Claim ProfileThe founders of DriveX are Christopher Sargunam and Narain Karthikeyan.
Here are the details of DriveX's key team members:
- Christopher Sargunam: Co-Founder & Chief Technology Officer of DriveX. They serve on the board of 1 company.Contact Info: 1 phone number
- Narain Karthikeyan: Co-Founder of DriveX. They serve on the board of 1 company.Contact Info: 1 email address
DriveX's Board of Directors
DriveX's board has 4 active members. Christopher Sargunam and Narain Karthikeyan are part of team and Hormazd Sorabjee and Sharad Mohan Mishra are independent board members.Here is the list of DriveX's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 5y 11m | |
Team | - | Current | 5y 6m | |
xugamdh | Team | - | Past | 8y 7m |
Independent board member | - | Current | 3y 0m | |
ppjxgin | Independent board member | - | Current | 6y 9m |
qfhjb{z | Independent board member | - | Past | 4y 8m |
xbbnfsr | Independent board member | - | Past | 8y 3m |
View details of DriveX's Founder profiles and Board Members
DriveX's employee count trend
DriveX has 156 employees as of Jun 23. The total employee count is 160.0% more than what it was in Jun 22. Here is DriveX's employee count trend over the years:
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DriveX's Competitors and alternates
Top competitors of DriveX include Droom, BikeDekho and Vutto. Here is the list of Top 10 competitors of DriveX, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Online retailer of used and new automobiles, plus related services | $344M | 75/100 | ||
2nd | Online retailer of certified, pre-owned two-wheeled vehicles and related services | $10.8M | 67/100 | ||
3rd | Online platform for bike research and selling/buying bikes | - | - | 65/100 | |
4th | Platform offering a digital marketplace for buying and selling pre-owned two-wheelers | $8.02M | 59/100 | ||
5th | Platform for buying and selling second-hand motorcycles | $18.8M | 55/100 | ||
6th | Online marketplace for second-hand bikes | $42.1M | 52/100 | ||
7th | Online marketplace for buying and selling pre-owned vehicles | - | - | 46/100 | |
8th |  Gaadi Bazaar 2017, Chennai (India), Unfunded | Online marketplace of used and new vehicles | - | - | 43/100 |
9th | Online platform for automobile bidding | - | - | 38/100 | |
10th | Online listing platform for multi-category vehicles | - | - | 35/100 |
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DriveX's Investments and acquisitions
DriveX has made no investments or acquisitions yet.
Reports related to DriveX
Here is the latest report on DriveX's sector:
News related to DriveX
Filter this listMedia has covered DriveX for a total of 4 events in the last 1 year, 2 of them have been about company updates and 1 about people movement.
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DriveX Mobility Enters C2C Pre-Owned Two-Wheeler Market with DriveX DirectDeccan Herald•Sep 09, 2025•DriveX
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TVS Motor To Infuse INR 64 Cr In Narain Karthikeyan’s DriveXInc42•Jul 15, 2025•TVS Motor Company, DriveX
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DriveX Appoints Vinod Gupta as Vice President of Manufacturing to Power Growth and Operational ScaleBusiness News This Week•May 29, 2025•DriveX
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ValueBridge buys Boon Capital to ramp up early-stage advisory businessVCCircle•Mar 04, 2025•ValueBridge, Boon Capital Advisors, Boon Capital, Merisis Advisors and 15 others
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DeepTech startup DriveX raises €1.2 million for AI windshield damage detectionEU-Startups•Feb 05, 2025•DriveX, Carglass Limited, DriveX
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DriveX Emerges as the Preferred Partner for Dealers in the Refurbished Two-Wheeler Segment in IndiaMedia Bulletins•Oct 29, 2024•DriveX
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Pre-owned two-wheelers leader DriveX shifts gears; launches DriveX Xplor engine oilMedia Bulletins•Jan 31, 2024•DriveX
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