Mumbai based startup Entropy Innovations, has raised undisclosed amount in a funding led by a total of 10 angel investors. The round also saw participation of investment guru and executive chairman of Templeton emerging markets, Dr. Mark Mobius, who invested in the firm as part of an angel network, ah! Ventures in his personal capacity and AdvantEdge Incubator, which partnered in the investment through their Fund
Entropy was founded in early 2013 and is an engineering innovations company, that aims disrupting the two wheeler service industry.
The team includes alumni of IIT & IIM who have designed and manufactured automatic motorcycle wash machine – ‘Express Bike Wash’ that addresses multitude of problems faced by an individual owner as well as a service station. The company claims that the machine is capable of washing even the dirtiest of motorcycle within 2-5 minutes. The brand has catered to roughly 1,00,000 motorcycles over the last 1.5 year.
According to the company, about 15 million new ones bikes are added nationally to the existing lot last year. “A host of players offer wash related products. However, there are barely any organized players for wash and related value added services. Through ‘The EBW Store’, we wish to bridge this gap at an affordable price, faster service rate & with an ease of accessibility to the retail customers. Additionally, we remain environment friendly owing to some of the unique machine features” says Niraj Taksande, co-founder of Entropy.
The company aims to organize this segment and bridge the gap by providing services at an affordable price, faster service rate and with an ease of accessibility to the retail customers.
The company has a few installations at service stations and also a few retail touch points branded as “TheEBW Store”.