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Logistics firm eBikeGo raises pre-Series A funding
Photo Credit: 123RF.com

eBikeGo, an electric vehicle-based last-mile logistics firm, has raised $1.5 million (around Rs 11 crore) in a pre-Series A fundraising exercise.

Mumbai-based eBikeGo has raised this capital from a clutch of new and existing domestic and foreign individuals.

These include Bollywood singer Sukhbir Singh, Quess Corp Ltd CEO Vijay Sivaram, Asian Institute of Technology’s Brahmanand Mohanty, and Mungo Befestigungstechnik AG chairman Alparslan Kutukcuoglu.

Other participants in this round include Avdel India managing director Sameer Bulchandani, Chirpal Poly Films CEO Sumant Singhal, eBikeGo said in a statement.

Prior to this, the startup says it raised $700,000 last year from a clutch of angel backers and firms, including GSF Accelerator’s Rajesh Sawhney, Sarcha Advisors’ Rohit Chanana, Startup Buddy, and Girish Chitale.

eBikeGo, operated by Think Ebikego Pvt Ltd, began operations in 2019 and was set up by co-founders including Irfan Khan. The company says its platform does last-mile delivery for sectors including e-commerce, food delivery, groceries, and urban mobility.

“Currently our e-bikes are doing about 275,000 deliveries and saving close to 30 tonnes of carbon dioxide every month. We aim to make a significant impact on the environment and drive significant value to any business that is looking to scale up delivery operations,” Khan said.

eBikeGo also partners with franchisee owners, non-banking financial companies (NBFCs) and original equipment manufacturers (OEMs) through asset leasing models.

Deals in EV space

The core and satellite segments of the electric vehicles sector have received strong investor interest in the past couple of years.

On Wednesday, Ohm Mobility announced that it had acquired CloudNBFC, a Nagpur-based firm that develops management software for financiers. Ohm Mobility says its platform aims to modernise processes through which vehicles and EVs are managed and financed.

In December, aerial mobility firm The ePlane Company raised an undisclosed sum in a seed round led by Speciale Invest, a deep-technology venture capital firm.

In November, electric scooter manufacturer Ather Energy said it had raised $35 million (around Rs 260 crore) in a Series D round led by Sachin Bansal. The Flipkart co-founder has so far committed $53 million to the company.

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