Baaz Bikes has secured $2 million in Pre-Series A funding to expand its electric vehicle ecosystem for gig delivery workers, addressing key challenges within India's growing gig economy.

Target Information

Baaz Bikes, operating under its parent company ElecTorq Technologies, is a Bengaluru-based mobility start-up that has successfully raised $2 million in a Pre-Series A funding round led by Kalaari Capital, with additional participation from AdvantEdge, 9Unicorns, and Sumant Sinha, CMD of Renew Power. The company focuses on providing a tailored electric vehicle (EV) ecosystem for gig delivery workers, which includes both the Baaz Bikes and the Baaz Swap Network.

Through collaboration with local business owners who purchase Baaz Bikes for rental purposes, the company aims to alleviate key challenges faced by gig workers, including high operational costs related to petrol, limited funds to acquire vehicles, and frequent maintenance downtimes. Each Baaz Bike is priced at ₹30,000 and is designed for long-range travel, offering a distance of 60 km on a single battery charge, with additional battery swap options available.

Industry Overview in India

India’s gig economy is rapidly growing, fueled by rising demand for quick and efficient delivery services by major platforms like Zomato and Swiggy. With an increasing number of companies pushing for ultra-fast delivery options, gig workers face significant