Baaz Bikes raises $8 million to provide e-scooters to gig workers

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Tech enabled hyperlocal home deliveries have become a part of this new innovative world. Yet, this process can be both expensive and unsustainable for people engaged in the supply chain. Providing an all-encompassing solution with their full-stack electric vehicle ecosystem; Baaz Bikes, an EV startup, has raised $8 million in a Series A funding round led by Singapore-based Big Capital.

A base bikes e-scooter standing next to a battery swapping station (Baaz Swap)

The round also saw participation from Rakuten Capital, the Japan-based Rakuten Group’s venture capital arm; along with participation from its existing investors, Kalaari Capital, 9Unicorns, and Sumant Sinha (Chairman at renewable energy company ReNew).

“As champions of sustainable mobility, our vision revolves around delivering high-quality products and nurturing an advanced ecosystem that prioritises safety and rider satisfaction. We take immense pride in ensuring every product and service we offer is meticulously crafted in-house to address key concerns like range anxiety, charging accessibility, and operational efficiency,” said Anubhav Sharma, CEO and co-founder of Baaz Bikes.

The startup intends to use the fresh capital to enhance its product portfolio and scale up its EV ecosystem. Moreover, it plans to expand from its subscription-based model to introduce an ownership model for riders. Currently, Baaz Bikes operates primarily in the South Delhi Region. In the next 12 months, it aims to expand its operations through the entire Delhi and NCR regions; by amplifying its Base Swap Infrastructure.

About Baaz Bikes

Founded in 2019, Baaz Bikes is a full-stack EV ecosystem that provides gig delivery riders with access to its bikes; this is supported by its Dense Automated Battery Swapping Infrastructure (Baaz Swap). The startup is led by four IIT Delhi alumni: Anubhav Sharma, Shubham Srivastava, Karan Singla, and Abhijeet Saxena.

Currently, the startup mainly focuses on food and e-commerce delivery firms like Zepto, Zomato, Amazon, and more to make deliveries easier and more sustainable. Baaz Bikes is also looking towards manufacturing a new line of e-scooters that can be used as bike taxis. With 500 e-scooters on the road, it covers over 50 pin codes presently. In the next few months, the startup aims to have 6000–7000 e-scooters on the road and cover over 500 pin codes.

“We are delighted to join Baaz Bikes in its journey to empower gig workers to earn a better livelihood with a solution that is both robust and rugged to tackle the infrastructure challenges that hinder widespread adoption of EV solutions. We are firm believers that EV adoption can only be done in a closed-loop environment given the constraints of charging infrastructure; in this regard, Baaz Bike has the perfect solution to maximise asset and infrastructure utilisation,” said Preetinder S. Panjrath, CFO, BIG Capital.

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