Bikxie raises Rs.2-crore investment from GEMS Partners

Bike taxi service start-up Bikxie (under the aegis of Madhatters Voyage Pvt. Ltd) has recently raised an investment of around Rs.2 crore from GEMs Partners and Sachin Khandelwal, ex Honda Cars and ICICI Bank Vehicle Loans Head, in a fresh round of funding.

Bikxie had earlier raised few rounds of seed and angel funding from reputed investment bankers, management professionals, and businessmen. The funds received from this round will be utilized in upgrading technology and infrastructure, pushing internal growth, consolidation and expansion of operations to other cities.

Speaking on the occasion, Mohit Sharma, Co-Founder & CEO, Bikxie, said, “Receiving this investment marks a significant milestone in Bikxie’s journey. The fresh capital from GEMs will help us to scale up quickly within the NCR market and also expand to other cities.”

According to Aditya Gupta, GEMS Partners, “Sharing economy is the next big thing. It is where the future is. Bikxie has a huge market potential and growth is immense. The fact that the concept validation is proved with assets already operating at profitable margins along with the founders’ experience and commitment played a huge part in our decision-making.”

Bikxie was founded by Mohit Sharma, Divya Kalia and Dennis Ching in January 2016 with the core objective to decongest Indian roads through an efficient, easy-to-Use technology- based LAST Mile Solution by ensuring quick last-mile transportation solution for commuters. Bikxie’s all-female service “Bikxie Pink” (dedicated service for female customers driven by female pilots) has received tremendous response from female customers and media.