This investment will be used to strengthen the company’s inventory across all the existing cities to increase its market share.

Bike rental company Royal Brothers raises 1 million in pre-Series A funding
Atom Funding Monday, February 18, 2019 - 17:43

The first licensed bike rental company in south India, Royal Brothers raised an investment of USD 1 million (Pre-series A). This investment comes from Pradeep Deviah, Chairman and CEO of PDA trade fairs and associates; Angel Investor Amrith Prasad, which includes primary and secondary share purchase.

This investment will be used to strengthen the company’s inventory across all the existing cities to increase its market share. Plus, it will also enable the company to create more awareness, build the market for bike rentals, and even expand to five more states, including 10 new cities over the next six months. Royal Brothers will also introduce riding gear rentals across the cities they currently operate in, and start long-term leasing. One of the key things they will be working on is to introduce electric bikes as well. 

Abhishek Chandrasekhar, CEO and Director of Royal Brothers said, “This round of investment will allow us to expand our footprint with an increased presence across India. In addition, it will facilitate in growing our inventory and teams across new and existing markets.”

Royal Brothers was founded with a seed capital of Rs 1.8 crore in 2015. The company was also the first bike rental platform to be licenced to operate in Karnataka, Gujarat, Kerala and Andhra Pradesh.

Pradeep Deviah said, “The team at Royal Brothers have done a tremendous job of growing the company while being bootstrapped. Their dedication to developing the bike rental space in India gave me the confidence to make the investment in the company.”

Royal Brothers offer a range of two-wheelers - from scooters to superbikes - which can be rented by travellers and commuters in 17-plus cities across six states of India. Their current inventory totals up to 1,700 two-wheelers.

Royal Brothers’ ultimate dream is to be able to connect all Indian cities and tourist locations across Southeast Asia via two-wheelers.

Become a TNM Member for just Rs 999!
You can also support us with a one-time payment.