HiRide

HiRide is a rapidly expanding startup within the tech industry, originally starting as a carpooling company. Now, the company is diversifying into different areas including a social media application called HiQ and a COVID-19 contact tracing application called Tracescan, while continuing to grow its carpooling app. HiRide serves as a carpooling platform primarily for post-secondary students, connecting drivers traveling long distances or commuting with riders going to similar destinations and facilitating payment exchange. With over 20,000+ users since its launch in January of 2019 and a successful pitch on Dragons Den resulting in funding, the app has shown promising growth potential. HiQ aims to encourage socialization and the creation of meaningful connections through trivia games, with over 500,000+ downloads in the app and play store. On the other hand, Tracescan is a joint venture with the University of Waterloo to develop a contact tracing mobile application/wearables to mitigate the spread of COVID-19. Overall, HiRide is operating in the education, platforms, transportation, and automotive industries, presenting a diverse portfolio with hits in the carpooling, social media, and health tech domains. As a venture capitalist, this startup's expansion and innovative approach across multiple sectors could be an attractive investment opportunity.