Yamaha Motor on Thursday said it has invested an undisclosed amount in bike rental company Royal Brothers via its Moto Business Service India (MBSI) subsidiary.
MBSI is a mobility solutions company, set up by Yamaha Motor, to provide two-wheeler asset management services to Indian tech startups working in the shared mobility market.
MBSI claims to assist with the acquisition of new two-wheelers and their deployment on rental platforms such as Royal Brothers on a revenue-sharing basis.
Individuals and delivery executives rent these cars at an inexpensive monthly lease rate, ensuring regular income and advancing the aim of job creation, the company said in a statement.
MBSI is also looking to partner with last-mile delivery platformers, particularly those aiming to deploy electric two- and three-wheelers.
Moto Business Service was launched in March 2021, its shareholders include Yamaha Motor Co., Ltd, Japan and Yamaha Motor Biz Partner Co., Ltd, Japan.
“Today, India is the land of startups and thriving digital infrastructure, uniquely placed at the cusp of a socio-economic revolution. Though the mobility sector took a blow from Covid-19, ride-hailing and rental services are picking up pace again.
We will onboard two-wheelers across multiple cities and generate employment avenues for the youth of India. We plan to work with more mobility companies in the future," said Shoji Shiraishi, Managing Director of MBSI.
Royal Brothers was founded in 2015 by Kuldeep Purohit, Akash Suresh and Abhishek Chandrashekar. It has introduced riding gear rentals across the currently active cities and begun long-term leasing. This year, the company also plans to produce electric motorcycles. It rents out two-wheelers ranging from mopeds to scooters to superbikes in over 20 cities throughout eight states.
