EV logistics platform eBikeGo has raised $1.5 million in pre-series A funding from a group of overseas and Indian investors.
Sukhbir Singh (Bollywood Singer), Dr. Brahmanand Mohanty (Professor at Asian Institute of Technology), Alparslan Kutukcuoglu (Chairman of the board at Mungo Befestigungstechnik AG), Vijay Sivaram (CEO at Quess Corp Limited), Sameer Bulchandani (MD at Avdel India) and Sumant Singhal (CEO at Chiripal Poly Films), amongst others, participated in this round.
The startup had raised $700,000 last year through an angel round led by Rajesh Sawhney of GSF Accelerator, Rohit Chanana of Sarcha Advisors, Girish Chitale, Startup Buddy and other angel investors, most of who participated in the current round.
According to a statement by the company, EBikeGo plans to scale to 30 cities, touch 20 million deliveries and save 4,000 tons of Co2 emissions by 2022. The company partners with franchisee owners, NBFCs and OEMs through asset leasing models.
EBikeGo, started in 2019 as a shared EV based last-mile logistics & micro-mobility platform that aggregates last mile delivery for companies in e-commerce, food delivery, groceries & urban mobility.
“Currently our e-bikes are doing about 275,000 deliveries and saving close to 30 tons of CO2 every month. With 10X growth expected in the next 12 months, and a 10,000-EV bike-fleet strong platform, we aim to make a significant impact on the environment and drive significant value to any business that is looking to scale up their delivery operations” said Dr. Irfan Khan, Co-founder and CEO of eBikeGo.