Fintech
The India-primarily based, Y-Combinator-backed vehicle sharing company, Drivezy, just raised Rs 65 crore ($ 10 million). The enterprise has used the funds partly to begin accepting bitcoin payments on their platform. In all, the business has raised a total of $ 16.5 million (Rs 107 crore) from quite a lot of diverse sources. An equity funding totaling $ 5 million has been made by using japanese and American organizations.
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The company’s CEO, Ashwarya Singh, instructed Econotimes that they had simply begun accepting bitcoin payments. He noted, “we have all started accepting cryptocurrency reminiscent of bitcoin for transactions on our platform. we have considered one hundred fifty-a hundred and sixty transactions via that mode so far.“
Drivezy plans on the use of its fundraising to further streamline the bitcoin acceptance procedure for his or her experience sharing utility.
Partnership with Unocoin to permit Bitcoin payments
The business has partnered with Unocoin to help make the bitcoin transactions streamlined. The business additionally launched an initial coin offering for Drivezy. Their own cryptographic tokens permit individuals to personal stake in the business and possess a part of their vehicle fleet.
Drivezy has partnered with Unocoin to enable bitcoin transactions and has additionally launched its preliminary Coin providing (ICO) to enable ownership of motors on its platform across the globe through bitcoins. The providing will enable people to buy or make investments in the cars and buy cryptographic tokens entitling them to a share of the income generated by condo transactions on the platform.
A Societal Shift to Bitcoin funds; Drivezy Future Plans
This move to accept bitcoin funds as the company grows represents a shift to bitcoin acceptance with many vehicle-connected startups. as an example, Uber simply introduced on a pro-bitcoin CEO who in the past labored for Expedia, and got the enterprise deeply concerned with 
accepting bitcoin funds. it’s feasible Uber may at last carry on bitcoin as payment option as smartly. impartial Uber drivers are already exploring this choice.
in this regard, Drivezy is already in the bitcoin acceptance quick lane. The company is taking initiatives to widen its base of operation in India. they’ll be launching new cycle rentals subsequent month, in addition to operations for all vehicles. Singh referred to, “We can be launching cycle rentals in Bengaluru next month. we are additionally looking to launch operations (for automobiles and bikes) in Kochi, Udaipur, Chennai and Hyderabad next.“
in terms of spreading bitcoin utilization and adoption, the young automobile sharing company is making headwind and environment the stage for more mainstream adoption in India.
What do you think about vehicle sharing firms embracing bitcoin funds? What do you believe about the way forward for bitcoin-fueled journey-sharing and automobile sharing functions? tell us within the feedback section beneath.
photographs courtesy of Shutterstock and Wikipedia
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