New things that changed the way India travels
Due to a large number of vehicles, such as private cars, buses, auto-rickshaws, and motorcycles/scooters, on roads in India, people are facing road congestion issue on daily basis. Most of the urban cities, such as Delhi/NCR region, Bengaluru, Mumbai, and Chennai, are facing heavy traffic. This increases the travel time of commuters. To resolve this issue of daily commuters, two-wheeler sharing companies are providing sharing services, which are convenient for travelling short distances and require less space on the roads than other mode of transport. The growth in ridership from last two-three years has shown that two-wheeler sharing rides are increasingly being used by daily commuters to reduce their travel time.
In April 2019, a motorcycle/scooter e-hailing service provider, Rapido raised around $11.2 million in its Series A funding round, which was led by venture capital firm, Nexus Venture Partners. Rapido also declared that the amount will be used for the operational expansion of the company into new cities in India.
Some other important players operating in the Indian two-wheeler sharing market are Yulu Bikes Pvt. Ltd., Bashar Technologies Pvt. Ltd. (Wheelstreet), Motocruizer Technologies India Pvt. Ltd. (Onn Bikes), ANI Technologies Pvt. Ltd. (Ola Bike), Drivezy India Travels Pvt. Ltd., and ZipHop Technologies Pvt. Ltd.
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