What is Kovi?
Kovi operates as a comprehensive car subscription platform tailored for drivers engaged in ride-hailing services. Based in Sao Paulo, Brazil, the company addresses the unique needs of this demographic by offering flexible and accessible vehicle solutions. By providing an all-inclusive service, Kovi aims to streamline the operational challenges faced by drivers, enabling them to focus on their core business of providing transportation services. The company's model is designed to foster growth within the gig economy, offering a vital service that supports the infrastructure of on-demand mobility.
How much funding has Kovi raised?
Kovi has raised a total of $144.5M across 3 funding rounds:
Angel/Seed
$10.5M
Series A
$30M
Series B
$104M
Angel/Seed (2019): $10.5M with participation from MAYA Capital and ONEVC
Series A (2020): $30M led by ONEVC, Monashees, Broadhaven Ventures, Quona Capital, Maya Capital, Justin Mateen, Global Founders Capital, Y Combinator, and Kevin Efrusy
Series B (2021): $104M supported by Prosus Ventures, Valor Capital Group, Monashees, UVC Investimentos, GFC, and Quona
Key Investors in Kovi
Valor Capital Group
Valor Capital Group is a pioneering cross-border venture fund that connects the US, Latin American, and global technology markets. The firm specializes in investing in fintech and enterprise software companies that are transforming industries and driving long-term innovation.
Monashees
Monashees Capital is a venture capital firm focused on Internet and Education. The company's business model, tailored to the Brazilian environment, is based on long-term vision, autonomy, agility and engagement in the companies in which the company invest.
Quona Capital
Quona Capital is a venture firm focused on fintech for inclusion in emerging markets. Quona partners have deep experience as investors and operators in both emerging and developed markets, and look for entrepreneurs whose companies have the potential to provide outstanding financial returns and promote breakthrough innovation in financial inclusion.
What's next for Kovi?
With the infusion of $104M in its latest funding round, Kovi is strategically positioned to expand its operations and enhance its service offerings. The company's focus on the ride-hailing driver segment suggests a strategy aimed at capturing a significant share of this niche market. Future developments are likely to involve scaling its fleet, optimizing its subscription platform, and potentially exploring new geographic markets within Brazil or Latin America. The sustained capital injections signal an intent to solidify its market leadership and further innovate within the car subscription and mobility-as-a-service sectors.
See full Kovi company page
