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Electric Mobility firm Baaz Bikes raises $8 million in Series A round led by BIG Capital
Money Control
ยท
1y ago
Medial
Baaz Bikes, an electric vehicle manufacturing startup in India, has secured $8 million in a Series A funding round led by BIG Capital. The funds will be used for expanding the company's operations, adding more battery swapping stations, and improving its product portfolio and technological innovation. Baaz Bikes offers subscription-based access to its bikes and dense automated battery swapping infrastructure, primarily catering to gig delivery riders working with Zomato, Swiggy, and Amazon. The company plans to expand its footprint in Delhi NCR and launch EV models for bike-taxis.
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Related News
Exclusive: Baaz Bikes to raise fresh funds from existing investors
Entrackr
ยท
9d ago
Medial
Exclusive: Baaz Bikes to raise fresh funds from existing investors Founded by Anubhav Sharma and Shubham Srivastava, Baaz Bikes provides subscription-based scooters to gig workers at firms like Zomato, Zepto, Swiggy, and Amazon. Baaz Bikes is raising Rs 19 crore ($2.2 million) in its extended Series A round from its existing investors, including Big Capital, Rakuten Capital, and Kalaari Capital. The board at Baaz Bikes has passed a special resolution to issue 2,521 preference shares at an issue price of Rs 75,716 each to raise Rs 19.08 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Big Capital will be leading the round with an investment of Rs 8.36 crore, while Rakuten Capital and Kalaari Capital will be investing Rs 5.86 crore and Rs 4.35 crore, respectively. Preetinder Singh Panjrath (CFO of Big Capital) will also contribute Rs 50 lakhs during the fresh proceeds. According to the startup data intelligence platform TheKredible, the company will be valued at around Rs 278 crore or $32.29 million post-money. The company has raised $12 million to date, including its $8 million Series A round led by Big Capital in 2023. Kalaari Capital is the largest external stakeholder with 24.80%, followed by Big Capital and Rakuten Capital, which command 11.30% and 8.06% respectively. The subscription covers multiple battery swaps in a month. The company has yet to file its annual results for FY25. However, its revenue from operations was recorded at Rs 3.76 crore in FY24, with a loss of Rs 8.47 crore during the fiscal year ended in March 2024.
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Electric mobility startup Yulu raises Rs 25Cr debt from Northern Arc
IndianStartupNews
ยท
1y ago
Medial
Electric mobility startup, Yulu, has secured Rs 25 crore in debt funding from Northern Arc Capital. The funding was raised through the issuance of non-convertible debentures, with each debenture priced at Rs 1,00,000. Yulu aims to enhance urban mobility solutions and offers last-mile connectivity through its network of electric bikes and battery swapping facilities. The startup had previously raised $82 million in a Series B equity funding round and has strategic partnerships with Bajaj Auto and Magna International.
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Fresh Bus raises INR 43.9 Cr, closes series A at INR 87.5 Cr
Inshorts
ยท
12m ago
Medial
Bengaluru-based inter-state electric bus service provider Fresh Bus has raised an additional INR 43.9 Cr (about $5.2 Mn) in its Series A funding round led by Maniv Mobility. The round also saw participation from Shell Ventures, Alteria Capital and existing investor Riverwalk Holdings.
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Alt Mobility bags $10 mn Series A cheque from Eurazeo, others
VCCircle
ยท
8m ago
Medial
Alt Mobility, an electric vehicle (EV) leasing and lifecycle management firm based in India, has raised $10 million in a Series A funding round. The investment was led by European venture capital firm Eurazeo, along with participation from existing investors Shell Ventures, EV2 Ventures, and Twynam. Alt Mobility currently operates a fleet of 10,000 electric vehicles across 20 Indian cities and plans to expand its fleet to 30,000 vehicles by March 2026. The company offers leasing, insurance, maintenance, and charging services for EV fleet operators and individual drivers.
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EV financing startup Perpetuity Capital raises Rs 7 Cr
Entrackr
ยท
1y ago
Medial
Perpetuity Capital, a fintech platform specializing in clean-tech mobility, has raised Rs 7 crore through Non-Convertible Debentures (NCDs) from N+1 Capital and RevX Capital. Perpetuity Capital plans to utilise these funds to enhance its lending capabilities and expand its loan book, particularly focusing on the regions of East India. This strategic move is aimed at promoting the adoption of environmentally friendly mobility solutions in these states. Led by Karamveer Dhillon, Perpetuity Capital helps delivery drivers and autorickshaw drivers avail finance to purchase electric vehicles for commercial use. In October 2023, Perpetuity Capital raised Rs 5 crore in debt from Clime Finance. In the electric vehicle financing space, Perpetuity Capital competes with Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp, among others. Revfin raised $14 million in Series B round led by Omidyar Network in December whereas Vidyut raised $10 million in February this year.
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Electric cycle startup EMotorad raises Rs. 160 Cr led by Panthera
Entrackr
ยท
1y ago
Medial
EMotorad, an electric cycle manufacturing company, has raised $20 million in a Series B funding round led by Panthera Growth Partners. The startup plans to use the funds to develop smart electric cycles, enhance manufacturing capabilities, and expand its offline presence in domestic and overseas markets. EMotorad sells eco-friendly e-bikes at affordable prices and is present in 18 countries, including the US, UAE, and Australia. The company aims to expand its sales to 100,000 electric cycles globally by FY25 and achieve EBITDA profitability in the next 24 months.
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Ati Motors raises $10.85 million in Series A led by True Ventures
Startup News FYI
ยท
2y ago
Medial
ATI Motors, a startup, secures $10.85 million in a Series A funding round led by True Ventures. The investment will support ATI Motors' growth and expansion in the electric vehicle (EV) market. With the backing of True Ventures, the company aims to further develop its EV technology and make strides in the competitive electric mobility industry.
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E-mobility startup Kazam raises $8 Mn led by Vertex Ventures
Entrackr
ยท
12m ago
Medial
E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors. The company had previously raised $11.4 million from Avaana Capital Advisors and others. The fresh funds will be used to bolster its technology and product teams, enhance platform offerings, and expand market presence, Kazam said in a press release. Co-founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform which builds smart and affordable EV charging networks. The platform weeds out the hassles of EV infrastructure with its software and hardware solutions, designed to support charge point operators, fleet operators, and electricity grids. The startupโs aims to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. According to the Bengaluru-based company, its software enables a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, and claims to serve more than 25,000 charging points. It has recently launched LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes. Kazam has partnered with BigBasket, Zypp, Mahindra Logistics and other third-party logistics, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last 12 months. The firm also added that its reach extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.
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Mumbai-based AutoNxt Automation raises $3M in a pre-Series A round led by Saama, others
IndianStartupNews
ยท
1y ago
Medial
Mumbai-based startup AutoNxt Automation has raised $3m in a funding round led by Saama. The firm plans to use the capital to launch India's first electric tractor with autonomous capabilities. The company's technology, including a high-torque electric powertrain and swappable battery system, aims to reduce operating costs for farmers and presents a sustainable alternative to conventional agricultural machinery. AutoNxt Automation's founders said the funding will allow the company to fast-track engineering efforts and establish itself as a global mobility platform.
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Electric Tractor Startup AutoNxt Bags $3 Mn From Saama Capital
Inc42
ยท
1y ago
Medial
Indian automation technology startup AutoNxt Automation has raised $3m in a pre-Series A funding round led by Saama Capital. The Mumbai-based firm is working to bring India's first electric, self-driving tractor to the market, with plans to launch later this year. AutoNxt claims that its electric tractors have operating costs one-fifth that of diesel tractors, enabling owners to break even within two years. The funding will be used to accelerate the startup's engineering efforts and establish it as a global mobility platform.
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