EV logistics startup eBikeGo raised $1.5 mn in pre-Series A round

EV logistics platform eBikeGo has raised $1.5 mn in pre-Series A round from a group of overseas and Indian investors. Bollywood Singer Sukhbir Singh, Dr Brahmanand Mohanty (Professor at Asian Institute of Technology), Alparslan Kutukcuoglu (Chairman Of The Board at Mungo Befestigungstechnik AG), Vijay Sivaram (CEO at Quess Corp Limited), Sameer Bulchandani (MD at Avdel India), among others, participated in the round.

eBikeGo plans to scale to 30 cities, touch 20 mn deliveries, and save 4,000 tons of carbon dioxide emissions by 2022 while continuing to be an asset-light business. It partners with franchisee owners, NBFCs, and OEMs through asset leasing models, and can consistently offer over 25% IRR to asset partners due to high asset utilisation and lower operations and maintenance costs, the statement said.

eBikeGo is a shared EV-based last-mile logistics and micro-mobility platform that aggregates last-mile delivery for all prominent companies in ecommerce, food delivery, groceries, and urban mobility, who outsource their last-mile to the startup. They are in talks with a few prominent clean energy and logistics-tech focussed funds to raise a larger round and grow at a rapid scale.

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