Latest News | Baaz Bikes Raises USD 2 Million Led by Kalaari Capital

New Delhi, Feb 22 (PTI) Baaz Bikes on Tuesday announced raising USD 2 million (around Rs 14.94 crore) in a pre-series A round led by Kalaari Capital.

Existing Investors like AdvantEdge, 9Unicorns and Sumant Sinha (CMD-Renew Power) also participated in this round, the company said in a statement.

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This latest fundraising would help the company expand its operations in Delhi in the next six months.

The company's focus is to become a Mobility Platform that provides gig delivery workers access to its in-house designed cost-efficient EV ecosystem.

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"With this USD two million, we are going to blanket Delhi with our ecosystem in the next six months and are targeting to clock 100,000 km every day," Baaz CEO and Co-Founder Anubhav Sharma said.

Baaz aims to solve the critical problems faced by gig delivery workers, i.e., long-range requirements, rising petrol costs, lack of capex to buy bikes and heavy downtime due to maintenance.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)