Last Mile Mobility Solutions Firm eBikeGo Reports Rapid Revenue Growth

One of India's leading electric two-wheeler mobility platform, eBikeGo has reported rapid expansion during the nationwide lockdown due to the COVID-19 pandemic. The company's revenue has grown from ₹ 15 lakh to ₹ 2.5 crore per month, while the electric two-wheeler fleet has growh from 300 scooters to 2,100 scooters, the company said in an announcement. eBikeGo has also expanded its workforce, and recruited over 70 professionals at leadership and managerial levels since the outbreak of the pandemic. The e-scooters of eBikeGo are currently operating in seven cities - Delhi, Mumbai, Hyderabad, Amritsar, Pune, Indore and Bengaluru and has shown a vertical growth in all spheres of operation in all these cities.

"As per the current demand in online delivery, we have expanded our capacity in terms of fleet and manpower during this pandemic. While we are building this up, we're also planning on improving our infrastructure, technology and existing facilities to provide ultimate convenience to all networked professionals, trained riders, our key partners, and stakeholders. With the existing tie-ups and increase in the volumes of fleets, we are targeting to fulfill 10,000 electric scooters within next financial year," said Irfan Khan, Founder & CEO of eBikeGo.

Earlier this year, the electric vehicle logistics start-up had raised ₹ 10.91 crore in pre-Series A funding from a group of Indian and foreign investors. In 2020, the start-up raised its first funding of ₹ 5.09 crore through an angel round. The company intends to scale up operations across 30 cities by FY 2022. eBikeGo partners with franchise owners, NBFCs, and OEMs through asset leasing models, and commenced operations in 2019. The company is a micro-mobility platform for last-mile logistics in e-commerce, food delivery, groceries and urban mobility.

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