SoftBank and Amazon in talks to invest in Drivezy 

SoftBank, the world’s largest technology investor, and consumer technology behemoth Amazon are among multiple investors that have thrown their hats in the ring to potentially lead a $100- million equity financing round in mobility platform Drivezy. 

The Bengaluru- and Silicon Valley-based startup, which has emerged as the largest two-wheeler self-drive platform in India, has been in the market to raise a fresh round of funding that will also include an estimated $400 million in asset financing, as it expands its fleet across the country and prepares to enter overseas markets as well. 

Amazon’s bet on the company is likely to be based on Drivezy’s meta-search platform, Rayy, making it more of a technology play for the Seattle-based company, according to two sources briefed on the developments. 

Rayy is a multi-product platform, focused on the gig economy, that will allow manufacturers, Drivezy as well as individuals to list products on it, ranging from shoes to two-wheelers, allowing users to share or rent the same. 

In response to an email query sent by ET, SoftBank said, “We do not comment on speculation.” An Amazon spokesperson said in response to an email from ET that the company does not comment on what it “may or may not do in future”. 

Ashwarya Singh, chief executive of Drivezy, also declined to comment. Additionally, a number of prospective financial and strategic investors, primarily based in South and Southeast Asia, have also commenced negotiations, according to the sources.

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