PayPal and Yahoo co-founders invest $1.5 Mn in mobile app Zendrive, aimed towards safer road travel

zendrive-1Zendrive, a San Francisco, CA based startup has recently raised $1.5 million in seed round of funding, as disclosed in its blogpost. The investors include leading players in social media and online payment gateway provider such as PayPal co-founder Max Levchin, Yahoo co-founder Jerry Yang & Tim Ferriss and many other tech founders and leading investors. As per the reports, the company plans to use this funding in building its team and hiring more talents.

An initiative of Ex Google and Facebook folks Jonathan Matus and Pankaj Risbood, Zendrive’s  ultimate goal is to make roads smarter, commutes shorter, and rides safer. It aims at reducing the major accidents on roads which kills more than 30,000 people every year in US.

The Zendrive’s team is building a platform that can connect them with drivers and will help modify their behavior when they are behind the wheel. As per the team, by using the power of cutting edge mobile technology, big-data and game mechanics, Zendrive can be a great way to help people understand and improve their behavior on the road.

Also, according to Jerry Yang, Zendrive is an innovative approach to provide meaningful, driving-related data to consumers to promote better driving habits and empower them to make better decisions about auto-related purchases and services.

Zendrive can even be used to take decisions about purchasing right car. As per Matus, with the proper understanding of one’s driving history, it can help a person choose car based on his driving patterns & needs and choices and preferences of similar drivers.

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The app will also be useful in gathering data related to the trillions of miles driven each year, thereby helping people to take better driving decisions and improve their driving habits.

How Zendrive will do this?

Here are just a few potential ways for how Zendrive will be able to improve driving for all ages and lifestyles.

–Zendrive will make it easy for an improved driver to prove his new A+ road skills, and help negotiate a better rate or choose a new insurance provider that will charge him less.

–The app will also keep a driver updated about the upcoming road barriers such as closing of bridges or roadblocks, in order to save time and avoid the resulting traffic jams.

–The platform will also give small and large rewards, from free dessert at a local eatery to assistance on reducing your auto insurance rate, to those who will show an act of responsible driving.

Apart from this, Parents could also use the system to track their teenagers’ driving habits and compare them to those of the average person in their town.

Though not yet available, Zendrive is a free mobile app that uses sensors based on iPhone to sense acceleration, speed location, and direction to determine exactly how safe one is driving.

The other similar apps in the space include DriveScribe and Safe Driver which helps in monitoring location and speed. Also, Google is providing quite similar services with the large amount of traffic data it gathers.

To contact author of this post, email at meha@wirefootindia.com

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