Electric vehicle startup Baaz Bikes accelerates with $8M in Series A funding led by BIG Capital. Rakuten Capital and existing investors, including Kalaari Capital, 9Unicorns, and Sumant Sinha, also join the investment round. Founded in 2019 by IIT alumni Anubhav Sharma, Shubham Srivastava, Abhijeet Saxena, and Karan Singla, Baaz Bikes focuses on e-scooters, batteries, and swapping solutions, primarily catering to gig workers. With $2.8 million raised to date, the latest funds will play a pivotal role in refining and enhancing Baaz Bikes’ current product lineup.
The startup, operating in South Delhi, aims to expand its footprint across the entire Delhi-NCR region within the next 12 months. Baaz Bikes emphasizes a closed-loop environment for EV adoption, optimizing asset and infrastructure utilization. Preetinder Panjrath, CFO of BIG Capital, notes the company’s solution aligns well with the challenges of charging infrastructure constraints. The funding underscores the confidence of investors in Baaz Bikes’ potential to make significant strides in the electric vehicle market.
That’s fantastic news, Baaz Bikes is raising high in the electric vehicle industry. They have recently secured an impressive $8M in Series A funding, which will definitely help them become a major player in the EV world. Sending my best wishes to the Baaz Bikes team as they continue to refine and enhance their product lineup.
~ Dr Shishir Gupta founder & CEO of StartupLanes
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