Baaz Bikes Aims Expansion To Scale Its EV Ecosystem The startup has closed Series A funding round and a substantial part of the funding will be deployed towards the refinement and enhancement of Baaz's product portfolio
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A full-stack EV ecosystem tailored for gig workers, Baaz Bikes (ElecTorq Technologies), announced the completion of its Series A funding round. It secured a total of $8 million, the round was led by Singapore-based BIG Capital, with participation from Rakuten Capital, Japan-based Rakuten Group's venture capital arm, along with existing investors like Kalaari Capital, 9Unicorns and Sumant Sinha.
"We are excited to announce the successful completion of our Series A round, marking another pivotal moment in our journey. This not only validates our mission to empower gig workers but also propels us to new heights where we can make a broader impact. As champions of sustainable mobility, our vision revolves around delivering high-quality products and nurturing an advanced ecosystem that prioritizes safety and rider satisfaction. We take immense pride in ensuring every product and service we offer is meticulously crafted in-house to address key concerns like range anxiety, charging accessibility, and operational efficiency," said , Anubhav Sharma, CEO, Baaz Bikes.
"We are delighted to join Baaz Bikes in its journey to empower the gig workers earn better livelihood with a solution that is both robust and rugged to tackle the infrastructure challenges that hinder widespread adoption of EV solutions. We are firm believers that EV adoption can only be done in a closed loop environment given the constraints of charging infrastructure; in this regard Baaz Bike has the perfect solution to maximize asset and infrastructure utilization," said, Preetinder S Panjrath, CFO, BIG Capital.
Baaz Bikes is transforming the gig economy with its electric scooters and a cutting-edge automated battery swapping Infrastructure known as Baaz Swap. Currently, Baaz is already live in the South Delhi region. In the next 12 months, Baaz will expand its footprints throughout Delhi and NCR region by amplifying its Baaz Swap Infrastructure, promising an even wider accessibility for gig workers. A substantial part of the funding will be deployed towards the refinement and enhancement of Baaz's product portfolio, with a steadfast commitment to keeping the EV ecosystem at the forefront of technological innovation.
