Oye! Rickshaw to start its operations in 25 cities starting with Lucknow, Meerut, and Jaipur and by the end of 2022, it will deploy 100,000 commercial electric vehicles to achieve the target revenue of Rs 4500 million.
Oye! Rickshaw is a shared, electric, micro-mobility marketplace redefining how the real Bharat commutes. Oye! Rickshaw is currently active in Delhi, Ghaziabad, Gurgaon, Karnal, & Noida and plans to expand aggressively in the coming time.
The company is on a mission to solve the First and Last Mile commute and logistics issues and increase the daily income of 2.5M e-Rickshaw Drivers. It offers a future-ready e-mobility ecosystem which is required in cities and towns in India.
Oye! Rickshaw was founded in 2017 by Mohit Sharma & Akashdeep Singh. Oye! has raised $10Mn in Series A funding and $1Mn in Seed funding from such investors as Matrix Partners, Chirate Ventures, Xiaomi, Pawan Munjal, etc.
“With our forward-looking approach, we are focused to work towards building a bigger, better, and sustainable business that has a multiplier effect on society and the environment. The sole purpose of the company is to build an efficient future-ready ecosystem around e-rickshaw to solve micro-mobility challenges in ride and delivery,” said Mohit Sharma, Co-founder, Oye Rickshaw.
Oye! Rickshaw has completed 3.5 million-plus deliveries in 2021. The company also offers battery swapping solutions and it aims to have 600 charging stations and cover 10,000 vehicles by 2022 end.