Narain Karthikeyan was a part of every millennial's GK books in the early 2000s. The Tamil Nadu-born man made waves when he became the first Indian to drive in a Formula 1 race. The iconic figure of the Indian auto scene was awarded the Padma Shri Award -- India's fourth highest civilian award -- in 2010. However, not many know that he is a successful entrepreneur as well. He launched a company called DriveX in 2020. In 2022, just two years after its launch, the company's estimated valuation was Rs 178 crore. It was backed by India's TVS Group, one of the biggest motorcycle makers of the world.
His full name is Kumar Ram Narain Karthikeyan. He was born on January 14, 1977. He was the first Indian to compete in Formula One, the pinnacle of global motorsports. Before this, he won many races in A1GP, British F3, World series by Nissan, AutoGP, Formula Asia, British Formula Ford and Opel. He won the British Formula Ford Winter Series and Formula Asia Championship. He made his Formula One debut in 2005. He was the test driver for the Williams team for two years. He also competed in the NASCAR truck series.
He was born in Tamil Nadu's Coimbatore. He did his schooling from Stanes Anglo Indian Higher Secondary School. His father himself was a racer; he won the South India Rally seven times. As a boy, he kept racing for several teams across the world.
After he retired from racing, he became an entrepreneur.
In 2022, TVS acquired 48 percent stakes in his company. They paid them Rs 85.4 crore. At this, the company's valuation turns to Rs 178 crore.
DriveX provides two wheelers on a subscription model. They also sell their two-wheelers.
The turnover of the company was Rs 47.98 lakh in 2020-2021. The company expanded to five cities during the transactions.
The company also sells, trades and distributes pre-owned motorcycles and scooters.
It is a digital first business.
Venu Srinivasan is the chairman emeritus and managing director of TVS Motor Company. He is one of the richest men in India. The company has three factories in India and one in Indonesia. The revenue of the company is in billions.
Sudarshan Venu is the company's managing director and Lakshmi Venu is a director on the board.
He is the grandson of TV Sundaram Iyengar, who established the group in 1911.
He received Padma Bhushan in 2020.
