India’s first Formula 1 driver Narain Karthikeyan has taken a different route after leaving the racetrack, moving into entrepreneurship with DriveX, a Bengaluru-based pre-owned two-wheeler platform he co-founded in 2020.
DriveX was built to bring greater organisation to India’s fragmented used motorcycle and scooter market. The company combines vehicle sourcing, inspection, refurbishment, valuation, documentation and retail, offering customers a more structured way to buy and sell pre-owned two-wheelers.
The startup attracted significant backing from TVS Motor. In 2022, TVS led a $10.6 million Series A round, valuing DriveX at around ₹176 crore post-money. Across its reported funding rounds, the company raised about $10.8 million.
DriveX has since expanded its business model beyond refurbished vehicles. It launched DriveX Direct, a customer-to-customer marketplace, and introduced an AI-powered used two-wheeler discovery platform in 2026. The company has also added end-to-end RTO services in Bengaluru and Chennai.
According to Tracxn data cited by Moneycontrol, DriveX reported revenue of ₹60.8 crore in FY25, while the company remained loss-making with a reported FY25 loss after tax of around ₹46.3 crore. The business has sold more than 40,000 vehicles and has over 40 stores, according to its website.
Karthikeyan’s transition from Formula 1 to mobility entrepreneurship highlights how experience in the automotive world can translate into building businesses beyond motorsport.
