VC Fund Investments
Mobility enabler for gig workers Baaz Bikes raises $2-M from Kalaari Capital, others
New Delhi-based Baaz Bikes (operated by ElecTorq Technologies) has raised USD 2 million in a pre-Series A led by Kalaari Capital. Existing Investors like AdvantEdge, 9Unicorns and Sumant Sinha (CMD-Renew Power) also participated in this round. Founded by Anubhav Sharma and Shubham Srivastava, New Delhi-based Baaz Bike helps gig workers to efficiently make deliveries with least cost by its in-house designed Cost Efficient Bikes (Baaz Bikes) provided by the local bike rental partners. Baaz operates in two zones of Delhi with its swapping infrastructure and its riders clocking close to 100,000 green kms every month. The startup claims that it has swapped batteries 3,000 times and has over 300 interested partners growing daily.
From the Venture Intelligence PE-VC Deal Database: In Jul-19, ElecTorq raised $0.06 M from AdvantEdge Partners, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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