New Delhi, July 2025 — Electric mobility startup Baaz Bikes has raised ₹19.08 crore (approx. $2.2 million) in a follow-on Series A round from existing investors Big Capital, Rakuten Capital, Kalaari Capital, and Panjrath Group, valuing the company at approximately ₹278 crore post-money.
Building an EV System for Gig Workers
Launched by IIT Delhi alumni, Baaz Bikes is building a full-stack ecosystem for gig delivery workers combining purpose built electric scooters, battery-swapping stations, and a controlled hardware-software loop. The goal: reduce downtime, remove charging friction, and improve unit economics for India’s growing delivery workforce.
The startup previously raised $8 million in November 2023. This follow-on funding reflects growing investor confidence in Baaz’s asset-light, vertically integrated approach.
Capital Will Power
• Expansion of battery-swapping stations across Delhi-NCR
• Fleet scaling and dockless deployment in key gig zones
• Platform enhancements to streamline operations and data-driven maintenance
The Founders’ Edge
Co-founded by alumni of IIT Delhi, Baaz brings a systems-engineering lens to EV infrastructure. Unlike platform-agnostic EV players, Baaz controls scooter hardware, battery tech, and deployment sites offering a tightly optimized user flow.
Market Watch
• Can Baaz balance infra-heavy ops with capital efficiency?
• Will vertical integration remain an advantage as new players enter fleet-as-a-service?
• How quickly can Baaz expand to other metros beyond Delhi?
Final Take:
Baaz Bikes isn’t just building scooters it’s building reliability into the gig economy. With investor trust and operational clarity, it’s quietly becoming a blueprint for EV-first mobility in India’s service backbone.
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