WheelStreet raises $500K from Broadbean Capital

By | March 28, 2016

WheelStreet, Indian Bike Rental startup providing services in Delhi and Bangalore has raised $500K (INR 3.4 Crores) from Broadbean Capital Services, a venture fund focused on early stage seed and pre series A rounds.

WheelStreet was founded in 2014 by Moksha Srivastava, Mritunjay Kumar and Pranay Shrivastava. The startup offers two-wheelers on rent. The fleet includes vehicles ranging from scooters to super bikes.

Talking on the development, Pranay Shrivastava, CEO – WheelStreet stated that the raised funding will be used to expand to more markets along with transforming the technology behind the rental and providing better and seamless experience to the users. We plan to expand to more markets like Hyderabad and Pune.

Two Wheeler rental market in India has seen a great surge in recent times. Few of the well-off players in this segment are WickedRide, Rent-On-Go, StoneHeadBikes and RentaBike operating in various parts of the country.