The full-stack EV ecosystem for gig workers plans to grow its automated battery-swapping infrastructure and optimize operations with fresh funds.
• India’s Baaz Bikes secured $8M Series A funding led by Singapore’s Big Capital.
• The startup provides removable batteries and automated charging stations for delivery drivers.
• Fresh financing to fuel a 10-12X expansion of Baaz’s operations across the New Delhi capital region by July 2024.
Baaz Bikes Raises $8M in Series A Led by Big Capital
Baaz Bikes, an Indian electric mobility startup providing scooters and battery-swapping stations for gig workers, has secured $8 million in a Series A funding round led by Singapore’s Big Capital.
The investment saw participation from Rakuten Capital, the VC arm of Japanese conglomerate Rakuten Group, and existing backers like Kalaari Capital and 9Unicorns.
Credit: https://baaz.bike/
Baaz Offers Electric Scooters and Removable Batteries
Founded by IIT Delhi alums, Baaz offers electric scooters and removable batteries to delivery partners of companies like Zomato and Amazon.
It operates automated battery swapping stations called Baaz Swap to eliminate range anxiety.
The startup also manages scooter charging and subscriptions through integrated software tools.
Currently focused on South Delhi with over 500 drivers and 30 swap stations, Baaz plans major expansion across India’s National Capital Region using the new financing.
Credit: https://baaz.bike/
Achieving a remarkable success
Founder and CEO Anubhav Sharma aims to grow operations 10-12X by July 2024.
The funds will also optimize products and safety while promoting scalability within the gig economy.
As the Indian commercial EV industry matures, Baaz intends to open its closed-loop battery ecosystem and explore asset-light ownership models for scooters.
It is also developing an auto rickshaw tailored to the developing bike taxi segment.
Rakuten Capital partner Nicole Jang commented, “With the commercial EV sector in India poised for substantial growth and Baaz Bike’s strategic positioning, we firmly believe they are on the path to achieving remarkable success.”
