Online motorbike rental aggregator Wheelstreet, which was a part of the Y Combinator Summer 2017 cohort, is reported to have raised $120K from the US-based seed accelerator.
The Bengaluru-based startup will deploy the proceeds to develop its technology.
Incorporated in 2014 by Moksha Srivastava and Pranay Shrivastava, Wheelstreet, operated by Bashar Technologies, is a marketplace for vendors and customers. It enables users to rent a two-wheeler of his or her choice, for a pre-determined date and time.
So far, two-wheeler rental aggregation is considered as an untapped market, the startup works with independent vendors enabling them to offer personalised services including different pricing structures for the same bike, multiple pick-up lo cations, and helps customers with real-time availability on the platform.
“The best part of YC (Y Combinator) is that we get to work with the best in the industry,” said Moksha Srivastava, co-founder of Wheelstreet.
“You can meet and interact with so many people. You get to understand what loopholes might come up. Those hacks have helped us boost our business,” she added.
Currently operated in cities that include Mumbai, Delhi, Kolkata, Chennai, Jaipur, Hyderabad, Srinagar, Guwahati, Manali, Leh and Jaisalmer.
According to the company, it does close to 3,400 monthly bookings and has over 160 vendors on its platform.
“India is a hotbed of creativity and talent, and we have seen a growing number of promising startups from the region,“ said Jared Friedman, partner at Y Combinator, reports ET.
In March last year, Wheelstreet had raised around Rs 3.4 crore from Broadbean Capital services Pvt Ltd, an early-stage seed and pre-series A venture fund.
Besides Wheelstreet, Tazzo Bikes, RentOnGo, Wicked Ride, ZipHop, Rent Set Go and ONN Bikes are other players in online motorbike rental space.