Baaz Bikes, a New Delhi-based full-stack electric vehicle ecosystem for gig workers, has made headlines by securing $8 million in a Series A funding round.

As per the startup, the freshly raised funds will be used to strengthen and optimize product offerings. With this in mind, the startup aims to focus more on enhancing safety and promoting scalability within the gig economy.

The fresh infusion will also enable the mobility platform to expand its network across the National Capital Region (NCR), comprising all of Delhi, Gurugram, and Noida, among others. Led by Singapore-based Big Capital, the funding round also saw participation from Rakuten Capital, Japan-based Rakuten Group’s venture capital arm. Existing investors like Kalaari Capital and 9Unicorns also participated in the funding round.

Baaz Bikes | Mobility Platform for Gig Workers

Founded by IIT Delhi alumni Anubhav Sharma, Abhijeet Saxena, Karan Singla, and Shubham Srivastava, Baaz Bikes is a New Delhi-based mobility platform that operates electric scooters and an automated battery-swapping infrastructure known as Baaz Swap.

The mobility platform helps gig workers to efficiently make deliveries with the least cost through its in-house designed cost-efficient bikes, Baaz Bikes, provided by the Local Bike Rental Partners, with practically an infinite range supported by its Dense Automated Battery Swapping Infrastructure (Baaz Swap).

Speaking on the development, Anubhav Sharma, Co-founder of Baaz Bikes, highlighted that the startup aims to eventually move from a closed-loop ecosystem for its batteries to become interoperable. The startup plans to open up ownership options for its scooters that would make the firm asset-light, highlighting its plans to launch an auto scooter catering to the bike taxi segment as well.

Sharma added,

“Right now, we are focussed on the food and grocery delivery, but we are looking to capture the bike taxi market as well by launching a product at least like six to seven months away.”

With its 60-member startup, the New Delhi-based startup also operates software tools that manage charging and subscription leases of the scooters and linked batteries.

Statement from the Investor

Commenting on the development, Nicole Jang, Partner, Rakuten Capital, said,

“With the commercial EV sector in India poised for substantial growth and Baaz Bike’s strategic positioning, we firmly believe they are on the path to achieving remarkable success in transforming the gig economy and contributing to a more sustainable future.”

The mobility platform charges drivers working as gig employees for delivery platforms such as Swiggy, Zomato, Zepto, and Amazon Rs 5,000 per month per scooter as a subscription, covering multiple battery swaps in a month. Currently, live only in the South Delhi region, with over 500 drivers and over 30 swapping stations, the New Delhi-based Baaz Bikes aims to scale these numbers by 10-12X within July 2024.

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