- Mumbai-based EV platform eBikeGo has raised $1.5 million in funding from a group of overseas and Indian investors.
- eBikeGo is a start-up and started its services in 2019 to provide environment-friendly means of transportation to B2C and B2B clients in the market.
For B2C the company partners with franchisee owners, NBFCs, and OEMs through asset leasing models in which anyone can buy an e-Bike and attached it to their fleet, and then eBikeGo further rent these e-Bikes to their registered partners and give assured monthly income to the real owner.
And for B2B last-mile logistics and micro-mobility platforms that facilitate last-mile deliveries for several companies in e-commerce groceries, food delivery, and urban mobility that outsources their last-miles to the company. They are working with trusted brands like Amazon, Zomato, Swiggy, Rapido, Uber, Flipkart, Big Basket, and many more.
Their aim is to scale to 30 cities and touch 20 million deliveries and save 4,000 tons of CO2 emissions by 2022.
As per Irfan Khan, Co-founder, and CEO, eBikeGo “Currently our e-Bikes are doing about 2,75,000+ deliveries and save close to 30 tons of CO2 every month, with 10X growth expected in the next 12 months, and a 10,000 EV bike fleet strong platform, we aim to make a significant impact on the environment, and drive significant value to any business that is looking to scale up their delivery operations”.
They have also raised $ 0.7 million last year through an angel round led by Rajesh Sawhney of GSF Accelerator, Girish Chitale, Start-up Buddy, Rohit Chanana of Sarcha Advisors, and other prominent angel investors, most of whom participated in the current round.
The company is investing a huge amount of money in transport data science which not only increases the efficiency in their services but also increases asset ROI and sheds downtime by 30-40%.
Beyond India, eBikeGo is also planning to expand its operations in South Africa, Sri Lanka, and other more countries to start with a platform-as-well-as service model by partnering with local companies.