DRVR secures funding to grow its fleet analytics platform

Bangkok: DRVR, a fleet analytics software provider for logistics and passenger vehicles, announced today that it has raised an undisclosed amount of funding from Smart Axiata’s Digital Innovation Fund.

The Bangkok-based startup was founded in 2014 by Henderson (CEO), Yevgen Peresada (Chief Architect), and Damien Williams (CFO).

The way it works is that vehicles that use the DRVR technology are attached with sensors that transmit data into the DRVR app. The application then processes and analyses the collected data, and turns the information gathered into actionable insights that shows fleet performance metrics.

“Suppose you have a fleet of trucks delivering goods. As soon as a truck leaves your warehouse, you lose visibility of it. You don’t know where exactly the truck is, how it’s being driven, or if someone is pinching your cargo or valuable fuel, etc. What if you could make a digital clone of the truck and put that on the internet? You could suddenly see in real-time information about the way it is being driven,” Henderson said.

In addition to sharing its latest funding announcement, Henderson also shared the struggles that the startup has faced recently in growing its company.

Two years ago, DRVR faced a major setback when it lost its largest customer. While there were other reasons behind it, one of the main ones was because its client wanted DRVR to build a product that was not aligned with its focus.

Nevertheless, the startup has been undeterred by its setback to hit its target of having six times more growth in revenue by April next year.