Baaz Bikes raises $8 Mn in Series A round

Baaz Bikes, a full-stack electric vehicle ecosystem for gig workers, has raised $8 million in a Series A funding round led by Singapore-based Big Capital.

The round saw participation from Rakuten Capital, Kalaari Capital and 9Unicorns. Kalaari had led $2 million pre Series A round in Baaz Bikes in February last year.

The fresh funds will be deployed to strengthen and optimise product offerings, with a core emphasis on enhancing safety and promoting scalability within the gig economy.

Founded by Anubhav Sharma and Shubham Srivastava, Baaz Bikes provides subscription based scooters to gig workers at firms like Zomato, Zepto, Swiggy and Amazon. The subscription covers multiple battery swaps in a month.

Currently, the platform operates in the South Delhi region with over 500 drivers and more than  30 swapping stations. In the next 12 months, it has plans to expand its footprints throughout Delhi and NCR region.

It competes with Yulu, Zypp Electric, Bounce, Fae Bikes, and eBikeGo.