Baaz Bikes, an electric mobility platform for gig workers, is set to raise ₹46.22 crore in Series B funding. BIG Capital will lead the round with ₹38 crore. Existing investor Kalaari Capital and Aravind Sanka will also participate.
Round details
The company’s board approved 6,105 Series B preference shares at ₹75,716 each. The Series B appears to be part of a larger fundraise. Proceeds will support capital expenditure, product development, and working capital.
Company background
Baaz Bikes was founded by Anubhav Sharma and Shubham Srivastava. It provides electric scooters on a subscription basis to delivery partners. These partners work with platforms such as Zomato, Swiggy, Zepto, and Amazon.
Subscription model
Subscriptions include multiple battery swaps. Delivery partners avoid the upfront cost of buying an electric vehicle. Baaz Bikes focuses on affordable and reliable mobility for last-mile delivery.
The transaction pegs Baaz Bikes’ post-money valuation at around ₹325 crore ($34 million). That estimate could change if the company raises more capital in this round. Baaz Bikes has raised about $12 million before this Series B.
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