Mobility start-up Baaz Bikes has raised $2 million in Pre-Series A funding
- ByStartupStory | February 23, 2022
Mobility start-up Baaz Bikes (ElecTorq Technologies) has raised $2 million in Pre-Series A from Kalaari Capital. the funding involved investors like 9Unicorns, AdvantEdge, and Sumant Sinha.
Baaz Bikes offers gig delivery workers access to its in-house designed EV community including Baaz Swap Network and Baaz Bikes. The company works through a chain of local business owners, who buy the Baaz Bikes and then rent them out to gig workers. The price of the One Baaz bike is ₹30,000. The company aims to solve the critical problems faced by delivery workers like long-range requirements, rising petrol prices and heavy downtime due to maintenance.
On a single battery, Baaz bikes provide a range of 60 km, post where the gig workers can exchange the batteries using the company’s battery-swapping network. They are available in two zones of Delhi with its swapping infrastructure and its rider’s clock close to 100k km every month.
Anubhav Sharma the Co-Founder and CEO of Baaz bikes said, “We are getting overwhelmed with requests from gig workers to join our platform and start delivering via Baaz, we have gig workers Currently working on our Baazigar platform for Zomato and Swiggy. Now when companies are promising 10-minute deliveries, the demand is only going to rise. We are enthusiastic to have Kalaari’s support in our journey.”