Bike rental co Royal Brothers raises $1-M

Royal Brothers , a Bengaluru-headquartered bike rental company, has raised USD 1 million from PDA Trade Affairs Pvt Ltd and angel investors. The transaction includes primary and secondary share purchase. The primary funding will be used to strengthen inventory across cities where it is present now as well as boost its market share. Royal Brothers, founded with a seed capital of INR 1.8 crore in 2015, has been licensed to operate bike rental platforms in Karnataka, Gujarat, Kerala and Andhra Pradesh.