OX Drive
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
OX Drive (legal name SIA Spaceship) was a Latvian car-sharing startup founded in 2022 in Riga by Egija Gailuma, Kristiāns Karlsons, Juhan Kaarma and Kristaps Vasiļjevs. It offered Tesla car-sharing and long-term rental via a mobile app, starting at €0.28 per minute, with pricing including insurance and parking. Its fleet grew to over 110 Teslas; 50,000 customers drove nearly 4 million kilometers. Investors included Eleving Group (majority shareholder), Industra Bank, Planet 42's Eerik Oja and others; it raised €2.5 million in June 2023 and a €2.8 million financing agreement with Industra Bank in October 2023.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
OX Drive launched in Riga in 2022 as a Tesla car-sharing platform.
- Funding
OX Drive raised €2.5 million in June 2023 and signed a €2.8 million financing agreement with Industra Bank in October 2023 to grow the fleet to 200 cars.
- Acquired by Carguru
In August 2024 Carguru (LLC Slyfox), a Latvian car-sharing company founded in 2017 by Vladimirs Reskājs, announced the acquisition of OX Drive. By August 30, 2024 OX Drive merged into Carguru, with its 200+ electric cars becoming exclusively available through the Carguru app under Reskājs' leadership.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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