Japanese investment conglomerate SoftBank and e-commerce giant Amazon are in talks to invest in a $100-million equity financing round in Drivezy while SoftBank, via its Vision Fund, may also lead fresh funding in Faasos
SoftBank, Amazon in talks to invest in Drivezy
The Bengaluru and Silicon Valley-based startup Drivezy have been in talks to raise the funding, besides raising raising another $400 million in asset financing.
Amazon’s bet on the company is likely to be based on Drivezy’s meta-search platform, Rayy, which is focused on the gig economy. It will allow Drivezy as well as individuals to list products, ranging from shoes to two-wheelers, on it, allowing users to share or rent the same, the report added.
In November last year, Drivezy had raised $20 million in its Series B round of funding led by existing investor Das Capital with participation from Yamaha Motor Co Ltd, Axan Partners and IT-Farm.
SoftBank Vision Fund may lead funding for Faasos
Goldman Sachs, Chinese internet giant Tencent as well as Singapore’s Temasek are also expected to take part in the funding round, the report added.
The development comes close on the heels of Faasos parent, Rebel Foods Pvt. Ltd, raising about $16 million in a fresh round of funding led by existing investors Sequoia Capital and Lightbox Ventures. Earlier this year, the startup had also raised Rs 30 crore ($4.2 million) in debt funding from venture debt firm Alteria Capital.