Bangalore-based bike rental startup Wheelstreet has raised $500K (around INR 3.4 Cr.) in a funding round from Broadbean Capital services, an early-stage seed and Pre-Series A venture fund.
Founded in 2014 by Moksha Srivastava, Mritunjay Kumar and Pranay Shrivastava, Wheelstreet is a bike rental platform that offers two-wheelers on rent including scooters, commuter bikes, sports bikes, super bikes and premium bikes.
“Wheelstreet plans to use the funding amount to expand the technological capabilities of the firm and also to expand to the intended markets as soon as possible,” said Pranay Shrivastava, Co-founder & CEO at Wheelstreet.
Wheelstreet is operated by Bashar Technologies and is currently operational in Delhi/NCR and Bangalore. The startup plans to expand its services to Pune and Hyderabad.
In 2015, Bangalore-based luxury bike rental startup, WickedRide, raised seed funding led by an angel investor (the name of the investor was undisclosed). Stoneheadbikes and Rentabike are other few other startups which offers similar services all across north region of India.
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