Baaz Bikes is a full-stack solution for electric vehicles for gig workers. Baaz Bikes is set to raise its Series B funding round. The funding round will be led by BIG Capital. The funding round will observe active participation from existing investors Kalaari Capital and Aravind Sanka. The capital infusion will empower the platform to enhance its operations and scale its services to meet the demand of the growing gig economy.

Financial structure and capital utilization

According to regulatory filings checked by Entrackr, the company’s board has approved issuing 6,105 Series B preference shares at ₹75,716 per share for ₹46.22 crore. BIG Capital will be the lead investor for the round, with a contribution of ₹38 crore, followed by Kalaari Capital with ₹8 crore. 

The remaining amount will be invested by Aravind Sanka. The current Series B round seems to be the next step in a larger funding round, as the company will most likely take in more investment through the rest of the round. 

As per the estimates of Entrackr, the transaction values Baaz Bikes at about ₹325 crore (approximately $34 million). This valuation could move higher due to plans for additional capital to be raised. According to its filings, the fresh proceeds will be used for working capital, product development, and capital expenditure.

Business model and core vision

Baaz Bikes, a full-stack electric mobility platform for gig workers, was founded by Anubhav Sharma and Shubham Srivastava. The company has launched an electric scooter rental subscription for delivery partners that include Zomato, Swiggy, Zepto, and Amazon. 

The subscription model includes several battery swapping cycles, which enable the delivery partners to overcome the initial investment in buying an electric vehicle. Before the ongoing ₹46.22 crore Series B investment round, the company had secured approximately $12 million (approximately ₹100 crore) of investment, which includes the July 2025 extended Series A investment round.

The demand for electric two-wheelers in the last-mile delivery category is on the rise, and the company is leveraging this opportunity by developing a business model catering to this requirement. The goal of Baaz Bikes is to create a holistic, zero-emission vehicle ecosystem designed to serve and uplift the gig economy and its workforce. 

The company’s mission is to make specialised electric scooters more accessible on an affordable subscription model, while automated battery charging and swapping stations will reduce the financial outlay of owning a vehicle and downtime risks for delivery partners. 

At the heart of Baaz Bikes is the goal of providing gig workers with a more profitable, dependable, and sustainable last-mile mobility experience, and contributing to the broader transition toward green transportation.

Conclusion

By positioning itself with the help of a vertically-integrated business ecosystem, Baaz Bikes aims to capitalize on the growing sustainable last-mile delivery space. The support of renowned venture capital firms such as BIG Capital and Kalaari Capital has ensured that the company has gained the necessary financial momentum to fuel its product innovation and capex activities. The growth of the gig economy across urban landscapes will be important in driving the growth of EV subscriptions.