Nitin Gupta has spent over six years with Ola and previously headed Foodpanda India’s engineering operations.
An IPO will help many of its investors including SoftBank to exit or partially sell their stakes.
The company has expanded its presence to over 30 cities and now has over 25,000 driver partners on its platform.
The round saw participation from growX Ventures, LetsVenture, Citrus Pay co-founder Jitendra Gupta and Venture Gurukool, among others.
Frozen Bottle was founded in early 2017 by Pranshul Yadav and Arun Suvarna.
Zendrive said the funds will help it build up its mobile driving safety solution and strengthen its global team.
Since 2015, the company has added around 30,000 beds, and another 60,000 contracted beds that will be added to the platform in the coming months.
The Vahanalaytics platform tracks vehicular data such as driving speeds, acceleration, stops, fuel and other driving behaviour.
The funding will be used to expand lending bases and deepen Lendingkart’s reach to small and underserved micro-enterprises.
The lay-offs were carried out due to redundancies in its current customer support workforce.
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