Private Equity

VC Fund Investments

Two-wheeler marketplace Bike Bazaar raises $10-M from Germany's DEG

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Bike Bazaar (formerly WheelsEMI), a Pune-headquartered platform to buy and sell two-wheeler vehicles, has raised USD 10 million from Germany-based development finance institution DEG. With the funding, the firm closed its Series D round of funding of USD 30 million. Other investors who participated in the Series D round include Women World's Banking Asset Management (WAM), Elevar Equity and Faering Capital. Founded in 2017 by Srinivas Kantheti and Karunakaran Vadakkepat, Bike Bazaar will use this capital to extend its reach in the rural market besides increasing its focus on electric mobility in the business-to-business (B2B) and business-to-consumer (B2C) space, offering finance, lease, and rental solutions. From the Venture Intelligence PE-VC Deal Database: Between Mar-17 and Jun-20, WheelsEMI had raised over USD 27 M from Faering Capital, BlackSoil Capital, Elevar Equity. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)