Mobility startups attract big bucks

bike rental startup Bounce — are in advanced discussions to raise growth capital from such large investors as private equity firm WestBridge Capital, South African media giant Naspers , venture firm Sequoia Capital India and Facebook co-founder Eduardo Saverin’s B Capital.
Currently, there are over 370 metro stations in the top 10 cities in India, from where connecting to endpoints like home or offices through cabs, buses or autos costs more at Rs 12-20 per km as compared to Rs 6.5 per km on bike-sharing platforms like Vogo and Bounce, according to data collated by venture firm Matrix Partners India.
Whether it is bike-sharing, bike taxi or e-rickshaws, these micro-mobility models will continue to thrive and will become large in terms of ridership going forward,” said Tarun Davda, MD at Matrix, which has been an early backer of Ola, Ola Electric Mobility and Vogo.
Now, these companies are coming with models that offer solutions at an affordable price which is seeing rapid growth across cities,” said Amith Karan, MD, Alvarez & Marsal.
To be sure, scooter and motorbike-sharing services were earlier introduced by both Uber and Ola in India.

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