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DRVR Co Ltd Thailand

Identify fuel theft and fake reimbursement claims

Thailand
Market: Transport, Artificial Intelligence
Stage of the project: Idea or something is already done

Date of last change: 01.11.2020
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Idea

Commercial fleet operators lose 10s of millions of dollars each year in false fuel claims. This is where drivers claim money on fuel for business travel but don't actually do the travel. The current methods for tracking this are either using expensive and intrusive GPS tracking devices or paper log books.
DRVR has developed a solution for commercial fleet operators. Our service collects fuel expenses data either from fuel cards or via simple scanning of receipts. We use this data to identify actual fuel spend. DRVR uses AI to identify false claims.

Current Status

Just rolling this out now with Ninja Van - 43,000 vehicles.

Market

Logistics
Transport
Last mile delivery

Problem or Opportunity

Across South East Asia Alone there are more than 8 million registered fleet vehicles not including motorcycles. Managing fuel for the drivers and vehicles is usually too much of a headache so company just estimate fuel spend and pay the drivers. This is costly and leads to poor outcomes.

Solution (product or service)

Microsoft have invested $30,000 in building out the back end infrastructure for this and Ninjavan have agreed to a paid for pilot.

Competitors

Using paper log books
GPS devices

Advantages or differentiators

Cheaper and easier to roll out
Log books easy to cheat

Finance

Monthly recurring SaaS model based on number of apps/vehicles providing data.

Back end infrastructure required to run the service

Business model

SaaS - Monthly subscription per driver/vehicle of $3 per month.

Money will be spent on

Completing development and rolling out the product

Offer for investor

20% equity for $1m pre money

Team or Management

Risks

Connected vehicles over time maybe able to provide this data directly to their customers - unlikely to happen any time soon.

Incubation/Acceleration programs accomplishment

You can find these here:

www.drvr.co

Won the competition and other awards

You can find these here:

www.drvr.co
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video