How Much Did eBikeGo Raise? Funding & Key Investors

eBikeGo has successfully raised funds through a Series A round, attracting a diverse group of 21 investors. The company is dedicated to providing innovative electric mobility solutions, emphasizing sustainability and customer-centric designs.

Keep reading to explore the intricacies of eBikeGo's fundraising journey and the investors backing this forward-thinking platform.

What Is eBikeGo?

eBikeGo, founded on March 25, 2019, is headquartered in Mumbai, Maharashtra, India. The company operates in the automotive and electric vehicle industries, focusing on creating world-class electric mobility solutions. With a workforce of 501-1000 employees, eBikeGo is dedicated to transforming how people move through innovative electric bikes and scooters.

The company was founded by Hari Kiran, Irfan Khan, Kedar Soman, and Milind Garud. eBikeGo offers a range of products, including electric delivery scooters, three-wheelers, and military bike editions, aiming to provide customer-centric solutions in the electric mobility space.

How Much Funding Has eBikeGo Raised?

1. Angel Round
   • Amount Raised: $400K
   • Date: March 2020
   • Lead Investors: Sukhbir Singh
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the startup's early-stage operations and growth.
2. Seed Round
   • Amount Raised: $300K
   • Date: November 2019
   • Lead Investors: Startup Buddy
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the company's electric mobility solutions and enhance delivery operations.
3. Seed Round
   • Amount Raised: $1.5M
   • Date: February 2021
   • Lead Investors: Sukhbir Singh, Vijay Sivaram, Brahmanand Mohanty, Alparslan Kutukcuoglu, Sameer Bulchandani, Sumant Singhal
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support operations and expansion in the last-mile delivery sector, focusing on environmental impact and business scalability.
4. Seed Round
   • Amount Raised: $1.4M
   • Date: August 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further expand the company's electric vehicle fleet and enhance its market presence.
5. Series A
   • Amount Raised: ₹270M
   • Date: May 2022
   • Lead Investors: Ivor Braganza, Launch Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations, innovate new products, and acquire leading companies in the electric mobility sector.

Total Amount Raised: $3.6M

Current Valuation: Not publicly disclosed

Key Investors

• Sukhbir Singh
  • Details: Sukhbir Singh is a renowned Bollywood singer known for his hit songs in the Indian music industry. He has ventured into investing, focusing on innovative and sustainable technologies.
  • Investment Focus Areas: Entertainment, sustainable technologies, electric vehicles.
  • Notable Investments: Not publicly disclosed.
• Vijay Sivaram
  • Details: Vijay Sivaram is the CEO of Quess Corp Ltd, a leading business services provider in India. He has a strong background in corporate and technological innovations.
  • Investment Focus Areas: Corporate services, technology, electric vehicles.
  • Notable Investments: Not publicly disclosed.
• Brahmanand Mohanty
  • Details: Dr. Brahmanand Mohanty is a professor at the Asian Institute of Technology, specializing in sustainable development and clean technologies.
  • Investment Focus Areas: Sustainable development, clean technologies, electric vehicles.
  • Notable Investments: Not publicly disclosed.
• Alparslan Kutukcuoglu
  • Details: Alparslan Kutukcuoglu is the Chairman of the Board at Mungo Befestigungstechnik AG, a company specializing in fastening technology.
  • Investment Focus Areas: Industrial advancements, technology, electric vehicles.
  • Notable Investments: Not publicly disclosed.
• Sameer Bulchandani
  • Details: Sameer Bulchandani is the Managing Director of Avdel India, a company involved in the manufacturing sector.
  • Investment Focus Areas: Manufacturing, industrial sectors, electric vehicles.
  • Notable Investments: Not publicly disclosed.

What's Next for eBikeGo?

eBikeGo is poised to capitalize on the burgeoning demand for eco-friendly last-mile delivery solutions. With plans to expand to 30 cities and achieve 20 million deliveries, the company is set to make a significant environmental impact by saving 4,000 tons of CO2 emissions. This growth is supported by partnerships with franchise owners, NBFCs, and OEMs, which will help scale operations efficiently.

Future fundraising opportunities look promising as eBikeGo is already in talks with clean energy and logistics-tech focused funds. The company aims for a 10X growth in the next 12 months, expanding its EV bike fleet to 10,000 and investing in transportation data science to optimize delivery operations. These efforts are likely to attract further investment, enabling rapid scaling and market dominance.

However, challenges such as competition from other EV logistics firms, regulatory hurdles, and the logistics of managing a large EV fleet could pose obstacles. Ensuring high asset utilization and low operational costs will be crucial for maintaining profitability and achieving long-term success.

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