Thailand-based car-sharing platform Drivemate has secured $2.2 million in a Series A round led by Netsol Technologies Inc, while Singapore-based maritime solutions firm Claritecs has raised S$850,000 ($600,000) in a pre-Series A funding round from Innoport.
Thai P2P car-sharing platform Drivemate raises $2.2m
Thailand-based car-sharing platform Drivemate has secured $2.2 million in a Series A round led by Netsol Technologies Inc., a Nasdaq-listed IT and enterprise software solutions provider in the US.
Other investors including Isuzu, UNT Group, and Colopl Next also participated in the round, which brings Drivemate’s total funding to $2.8 million.
Established in 2016, Drivemate is one of the leading peer-to-peer car-sharing services in Thailand. The company has more than 9,000 rental cars in all ranges of cars and a presence in over 45 provinces.
It will use the additional funds to further develop its platform and integrate its infrastructure with Netsol’s Otoz mobility platform.
Otoz will allow Drivemate to apply emerging tech like blockchain, internet of things, and machine learning to functions such as logging car histories, tracking customer transactions, implementing dynamic pricing, managing inventory, and monitoring driver behaviour and vehicle usage.
The fund raised will be used to expand into other Asian countries such as China, Singapore, and Australia.
Claritecs raised $600K pre-Series A funding from Innoport
Singapore-based maritime solutions firm Claritecs has raised S$850,000 ($600,000) in its pre-Series A funding round from Schulte Group-backed venture capital unit Innoport and an angel investor from the Singapore maritime industry, according to a statement.
The funds raised will be used to support product development and market roll-out while enabling Claritecs to strengthen its position in the local technology innovation arena specialising in the bunkering sector.
Claritecs aims to raise its Series A round by the first quarter of 2020 to support its international expansion and future product development.
In May, the Schulte Group had launched Innoport, a dedicated venture capital unit which identifies investment opportunities in the global maritime startup ecosystem to equip entrepreneurs with smart capital.
The unit will support early-stage maritime and logistics startups predominantly in Europe and Asia, with the flexibility to collaborate with newcomers from all areas of the world.