Two-wheeler lifecycle services and finance specialist Bike Bazaar has raised Rs 170 crore in equity funding as part of its Series D round, taking the total to Rs 250 crore in this round. The Pune-based company secured the funding from a consortium led by Women's World Banking Asset Management.
The company is present across 140 Indian cities with over 1,000 touchpoints and has financed over a lakh two-wheelers, disbursing over Rs 600 crore in FY 2022 alone.
According to Karunakaran Vadakkepat, Co-Founder and Joint MD of Bike Bazaar, a major portion of the funding will be allocated for improving technology in marketplace and EV finance segments.
“Currently we operate in used two-wheeler financing, new two-wheeler financing, we have a separate vertical focused on EV two-wheelers and we are into marketplace also. So a major part of this funding will go into technology because in the marketplace business and the EV finance business, technology is going to be very big game changer," Vadakkepat said.
Also, on the sidelines of TiE Delhi-NCR's India Internet Day, CNBC-TV18 spoke to Chakradhar Gade, Co-Founder of Country Delight, to discuss the journey so far and the road ahead for the company.
Moreover, Piyush Surana of Tomorrow Capital and Sachin Tagra, Partner at JSW Venture, weighed in on the impact of funding slowdown on startups.
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