As part of its expansion drive, Wheelstreet, a bike rental aggregator based in Bengaluru, today said it plans to launch its services pan-India shortly.
As part of its expansion drive, Wheelstreet, a bike rental aggregator based in Bengaluru, today said it plans to launch its services pan-India shortly.
"We are currently operational in 18 cities with 110- plus vendors, including Pune, Delhi, Chandigarh, Mumbai, Kolkata, Darjeeling, Jaipur and Hyderabad.
"We plan to launch our services pan-India soon. There are over 40 cities in India which currently have an unorganised two-wheeler rental marketplace," Wheelstreet.in co-founder Moksha Srivastava said in a statement here.
Wheelstreet is engaged in an organised two-wheeler rental marketplace that works with independent vendors enabling them to offer personalised services, including different pricing structures for the same bike, multiple pickup locations, a fleet of the latest bikes and real time availability on the platform.
Commenting on the opportunity, Srivastava said the market size of bike rental segment is very huge and the total serviceable available market (SAM) is USD 4.6 billion. The serviceable obtainable market (SOM) is USD 340 million.
"We see this market emerging really fast, as when we started we had only 200 bikes in Bengaluru and now there are more than 4,000 bikes. The company is launching "WS-Tours" wherein we will be aggregating tours from online travel agents and websites."
Srivastava said the company had closed three rounds of funding till now.
A total of Rs 3.4 crore from two rounds and an undisclosed amount in the third one has been raised by the company. It is now looking to mop up more money and is currently in talks with some VC firms for the same, Srivastava added.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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