[Funding alert] Singer Sukhbir Singh on top gear, invests in electric vehicle startup eBikeGo
The mobility startup, which is in the process of raising funds, will deploy these funds to expand its operations to other cities in India as well as for increasing its fleet in Delhi.
Bollywood singer Sukhbir Singh is investing an undisclosed amount in Amritsar-based startup eBikeGo. Startup Buddy, which was appointed as an advisor to Sukhbir Singh for his investments, said on Monday that the singer has selected electic vehicle startup eBikeGo for his second investment in India, after investing in LQI early this month.
The mobility startup is in the process of raising funds, and will deploy these funds to expand its operations to other cities in India as well as for increasing its fleet in Delhi.
eBikeGo is an electric two-wheeler rental platform that provides economical and environmentally friendly travelling option for everyone. Founded in 2017 by Dr Irfan Khan, the startup started its operations in Amritsar with Okinawa Scooters, and then expanded to Delhi, Jaipur, and Ludhiana.
Currently, eBikeGo is working with different delivery companies to convert their fleet into electric, and has tie-ups with companies like Zomato, Delhivery, Ferns & Petals, Gostops, etc.
Commenting on the investment, Sukhbir Singh said, “eBikeGo is solving the major problem of pollution that India is facing right now by converting the two-wheeler fleet, which is the major reason for pollution in major cities, to electric, and it is an economical solution to major delivery companies and executives”.
At present, the startup generates its revenue through rental services for tourists and customers, taxi rides through mobile apps, and also through tie-ups with logistic delivery providers.
It is aiming to target 3 percent of Indian electric two-wheeler market share, and aims to bring on road a fleet of 200,000 bikes in about 100 cities across the country.
(Edited by Megha Reddy)