Krew
Krew aims to disrupt the intercity travel industry by offering hyper-affordable, long distance car rides to consumers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor investor investor | €0.0 | round |
| N/A | €0.0 | round | |
| N/A | $45.0k | Seed | |
| Total Funding | 000k | ||
| USD | 2019 | 2020 | 2021 | 2023 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 236 % | - | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Krew, which now operates as Hitch, is a technology company focused on the intercity transportation market. The firm was established to address a gap in affordable and convenient long-distance travel. The concept was conceived in 2016 by Kush Singh, who, as a student frequently traveling between cities, identified the potential to connect passengers with drivers already heading in the same direction with empty seats.
The company was co-founded by Kush Singh, who serves as the CEO. While a student at the University of Texas at Austin, Singh left his studies to concentrate on the venture. He met his co-founders, other student-entrepreneurs, at the university in 2017, and the company, originally named Krew, officially launched its service in 2019. The service was later rebranded as Hitch.
Hitch operates a ridesharing platform specifically designed for city-to-city trips, typically covering distances from 50 to 350 miles. The business model functions by matching paying riders with pre-vetted drivers who are already planning to drive between major cities, thereby utilizing the empty seats in their vehicles. This creates a marketplace that offers a more comfortable and direct alternative to traditional options like buses and trains for a similar price point. Revenue is generated by taking a commission from each booked ride. The platform allows for pre-booking of these long-distance journeys.
The service targets a market of travelers seeking practical and cost-effective options for intercity transportation. By focusing on this specific niche, Hitch avoids direct competition with short-distance urban rideshare services. The company initially solidified its presence across major cities in Texas before planning further expansion. The platform aims to provide a seamless booking and travel experience, enhancing comfort and convenience for long-haul trips.
Keywords: intercity travel, long-distance carpooling, ridesharing platform, city-to-city transport, Hitch, Kush Singh, shared mobility, travel technology, ground transportation, transportation network company, peer-to-peer ridesharing, Texas transportation, affordable travel, student travel, commuter solutions, shared rides, road trip sharing, bus alternative, UT Austin startup, transportation tech