Hyderabad based GetBike obtains $100K funding in an angel round of investment
Having taxis for cab services is quite common, but how about a motorbike sharing service? Rare isn’t it? Due to its unique factor, the motor cycle sharing startup Getbike was successful in raising a $100, 000 (Rs. 68 lakhs approximately in a round of angel investments.
Getbike, before known as Getmi is run by city based Vave Infosolutions India Pvt. Ltd. Getbike was launched in Hyderabad in September 2016. In just 3 months, the firm had 50 bikes and 108 riders including female riders.
Shravya Reddy is the proud founder of this startup and Vamshi Reddy B, angel investor and co-founder of Apalya Technologies and investor Venu Veeramaneni participated in the round of funding.
“We have done a minimum viable product (MVP) exercise for three months with 20 active riders and completed 10,680 trips. We are generating about Rs 2 lakh in revenues per month and growing at 50% month on month.” Shravya said.
The 11 member team of Getbike is extremely pleased with this angel round of funding and are looking forward to a funding of Rs. 3 Crore to support their future plans.
Congratulations team! It surely is an amazing news for all of you right before the year ends! Hope the New Year brings in more success to all of you.