Ride-hailing platform inDrive has announced a significant milestone in its growth journey, securing an additional $150 million in funding from venture capital firm General Catalyst.
This substantial investment from General Catalyst will fuel inDrive’s expansion, accelerate growth, enhance product offerings, and penetrate new markets, as stated by CFO Dmitry Sedov.
Stay well-informed and be the very first to receive all the most recent updates directly in your email! Tap here to join now for free!
General Catalyst, a staunch supporter of inDrive, has been instrumental in backing the company’s mission to democratize mobility on a global scale. Their continued investment underscores confidence in inDrive’s vision and potential.
Pranav Singhvi, Managing Director at General Catalyst, reiterated the firm’s commitment to inDrive’s growth trajectory, stating, “We are thrilled to support inDrive as they scale their operations and venture into new markets. This funding will position the company for continued success and market leadership.”
The funding announcement follows a remarkable year for inDrive, marked by a notable 54% increase in net revenue in 2023. With a presence in nearly 50 countries, primarily focusing on emerging markets, inDrive is primed to leverage this fresh capital infusion to further solidify its position as a leading player in the ride-hailing industry.
As inDrive gears up for expansion, this substantial funding injection from General Catalyst serves as a testament to the company’s potential and its commitment to transforming mobility solutions worldwide.
Stay well-informed and be the very first to receive all the most recent updates directly in your email! Tap here to join now for free!
