Bike Rental Startup ONN Bikes Looking To Rev Up Its Game With Dockless Bikes

The startup plans to foray into four more cities by 2018 and add 85 locations by 2022

It is currently in the process of raising Series A funding

ONN Bikes is looking to add another 4,000 bikes as part of its expansion plans

Mornings in Indian metros are chaotic to the point of being painful. Everyone is trying to get somewhere, and everyone is in a hurry.

It doesn’t help that most Indian cities are unplanned with narrow, potholed roads (which too are riddled with encroachments), ever-increasing wheels on the street, and burgeoning populations. Highway expansion, extension of metro lines and flyovers are doing little to help the situation.

Arterial roads are choked with traffic, public transportation is overcrowded and unreliable, and parking is at a premium. There’s Ola and Uber for those looking for hired rides, but cabs have painfully long wait times or are unavailable. Plus surge pricing hikes up fares astronomically, making cabs unaffordable for many.

Enter bike rentals. Riding bikes to get around the city — making for quicker, hassle-free commutes and exercise on the side — has picked up in India in the last few years. And in the sharing economy it is but natural to get everything on hire.

With a view to make bike rentals hassle-free and enable quicker intra-city commutes, Bengaluru-headquartered online bike rental startup ONN Bikes has introduced hourly, daily, weekly, and monthly bike rentals.

Cabs fare has increased a lot and availability is a challenge. So, people have started renting bikes as an alternate mode of transportation,” says the founder of ONN Bikes,Namit jai , adding, “The cost of our self-driving bikes are 70% lower than that of cab rides.”

Shoot

Trending News

Xiaomi pumps Rs 3,500 crore into India business

BlackBuck's out to raise $150M in new round, valuation likely to jump to $800 M

With $21 Billion, Azim Premji among world’s top philanthropists

Google agreed on a $45M exit package for India-origin exec accused of sex abuse

HSBC pegs Zomato's valuation at $3.6 billion ahead of Swiggy

PayU in talks to acquire online payments firm Wibmo for $60M

Quikr close to acquiring refurbished goods marketplace Zefo in all-stock deal

What life looks like after a layoff from an IT company

General Atlantic & Tencent pump in another Rs 80 Cr in ed-tech unicorn Byju's

US Senator Warren vows to break up Amazon, Facebook, Google

SoftBank extends tech reach with $5B Latin American fund

Coverfox hits the market to raise $50M in new financing round

Cognizant faces US lawsuit alleging discrimination

China's Huawei sues US over federal ban on using its products

Germany's Delivery Hero acquires Zomato's UAE biz, invests in India ops

Ahead of deadline, debate rages on e-commerce policy

Flipkart rejigs reporting of Myntra-Jabong head Amar Nagaram

Grofers raises fresh funds from existing investors, valuation hits $425M

Sachin Bansal invests Rs 250 Cr each in NBFCs Altico & IndoStar: Report

I-bank Wolet files $800k suit over Flipkart’s Upstream buy

Flipkart FY18 revenue up 50%, but losses grow 5x

Pine Labs in talks to acquire Amazon-backed Qwikcilver for $100M

India can become 2nd largest 5G market in 10 years: Huawei

Alibaba rival Pinduoduo seeks to raise $1.5B

Twitter Q4 revenue grows to $909M as video ad sales surge

Mukesh Ambani to invest $1.4B in West Bengal, will help e-commerce expansion

Etail may lose Rs 40,000 crore, retail to get a 3rd of it

Steadview Capital invests $74M in Ola valuing it at around $6B

Byju’s ups revenue to Rs 490 cr in FY 18, losses drop by half

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Qualcomm rejects Broadcom's $103 billion offer

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities