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<keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, which is India's largest mobility app, has started piloting Bike Taxis in Bengaluru after introducing bus services, thus strengthening its place in the mobility market. 
 
The bike taxis would run at an introductory fare of Rs 2/km and Re 1 per minute of trip time would be added to the bill. In a statement by Ola, the minimum fare is reported to be Rs 30. 
 
Pranay Jivrajka, Ola’s COO said, "We expect significant demand in the pilot phase and we will continue to scale this service up in the coming weeks to cover more areas in the city." 
 On the other hand, Ola’s prime rival <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> has also announced the experiment of offering Bike taxis in Bengaluru, but at a higher cost of Rs 3/km. The minimum fare in Uber bike taxi rides would be Rs 15. 
 
<a href="http://blog.olacabs.com/ola-bike-taxis-launched-in-bangalore/">Image source</a>

Ola hits at Uber with cheaper bike taxis in Bengaluru

<keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> and <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>’s ambitious plans to launch their respective <a href="http://www.businessinsider.in/searchresult.cms?query=bike+taxi">bike-taxi services</a> have come to a halt as the Karnataka government said there are no rules on how to govern them. 
 
This doesn’t mean that the bike-taxi services have been banned. They have been halted till the time the <a href="http://www.businessinsider.in/searchresult.cms?query=karnataka+government">Karnataka government</a> formulates a set of regulations under the Motor Vehicles Act on how to govern them. 
 Till now, as per the transport department officials said the <keyword id="3273948" type="UNKNOWN" weightage="20" keywordseo="bike-taxi-services">bike taxi services</keyword> launched by <a href="http://www.businessinsider.in/Welcome-UberMoto-to-Bengaluru-a-brand-new-bike-taxi-service/articleshow/51236151.cms">Uber</a> and <a href="http://www.businessinsider.in/Ola-hits-at-Uber-with-cheaper-bike-taxis-in-Bengaluru/articleshow/51239417.cms">Ola</a> in Bengaluru last week, remain unlawful. 
 
"Let them (Uber, Ola etc) first go before the Regional Transport Authority stating that they wish to run bike taxis. They will examine the request, and take things forward," transport commissioner Rame Gowda told ET, adding, "We cannot allow a white-board registration bike to offer taxi services. We will have to deal with many aspects including the security of users.” 
 
Uber and Ola had taken advantage of no rules listed under the bike taxi services and launched the same in the IT hub. 
 
In Karnataka, a bike is registered for personal use. If the owner of a bike wishes to use it for commercial purposes, then he or she cannot do that without first changing the vehicle to transport category. 
 
However, in Goa, there is a provision for bike taxi services and they charge a minimum fare Rs 10 and a per kilometre fare of Rs 3. 
 
Meanwhile, as per few reports, some Uber and Ola bike taxis were seized also for illegally running in <a href="http://www.businessinsider.in/searchresult.cms?query=bengaluru">Bengaluru</a>. 
 
(Image: Indiatimes)

Newly launched bike taxi services by Uber, Ola are unlawful until new regulations formulated

<ul><li>Indian government will soon direct <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>, <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> to convert 40% of their fleet to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> by 2026, says a report. </li><li>Ola has already taken the lead in the electric vehicle segment in India. </li><li>Uber has reportedly been experimenting with electric bikes in India. </li></ul>The Indian government is clearly not taking its Electric Vehicle mission lightly. The government has reportedly ordered ride-hailing giants Uber and Ola to convert 40% of their fleet to electric cars by 2026, according to a <a href="https://www.reuters.com/article/us-india-electric-autos-exclusives/exclusive-india-to-order-taxi-aggregators-like-uber-ola-to-go-electric-idUSKCN1T71DU">Reuters report.</a> The report said that for both the companies to achieve this target, they will have to begin the conversion process by next year itself – “would need to start converting their fleet as early as next year to achieve 2.5% electrification by 2021, 5% by 2022, 10% by 2023 before hiking it to 40%,” the report said. Ola might take to this deadline much easily. It has already taken the lead in the electric vehicle segment. The homegrown unicorn has a company under the name Ola Electric Mobility which develops solutions to make electric mobility viable on a large scale. Ola plans to bring 1 million Electric Vehicles on to the Indian roads by 2021. The company has also been raising funds at a quick pace. So far, it has brought in investors like Ratan Tata and Arun Sarin, along with Tiger Global and Matrix India – all of whom are early investors in the parent company ANI Technologies. Meanwhile, Uber too is <a href="https://techcrunch.com/2019/05/09/uber-begins-trialing-e-bikes-and-bicycles-rides-in-india/">reportedly</a> experimenting with electric bicycles and bikes in India. The global giant has partnered with Bengaluru-based bicycle sharing platform Yulu bikes. Globally, Uber had acquired bike sharing startup Jump and had already launched its e-bike services in the US and UK. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a> <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a>

Uber, Ola might have to go electric by 2026 in India: Report

<ul><li><keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> partnered with <keyword id="4410318" type="PERSON" weightage="20" keywordseo="SUN-Mobility">Sun Mobility</keyword> for electric three-wheelers.</li><li>Sun Mobility with offers e-mobility solutions to companies, was founded by Chetan Maini, who had built India’s first <keyword id="46640" type="ORGANIZATION" weightage="20" keywordseo="electric-car">electric car</keyword> <keyword id="51538" type="COMPANY" weightage="20" keywordseo="Reva">Reva</keyword>. </li><li>Uber had earlier also partnered with Bengaluru-based Yulu bikes for electric bicycles.</li></ul>Ride hailing giant Uber has partnered with Sun Mobility to bring electric three wheelers in India. Interestingly, Sun Mobility is founded by Chetan Maini who had made India’s first electric car Reva. It was later sold to Mahindra &amp; Mahindra. Sun Mobility offers technological solutions to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword>. With their <a href="https://www.livemint.com/companies/news/uber-and-sun-mobilty-come-together-to-deploy-e-three-wheeler-in-india-1563953667519.html">partnership</a> with Uber, Sun will offer swappable smart batteries and quick interchange stations to original equipment manufacturers who will build EVs. Uber drivers and fleet owners can then in turn buy the EVs for lesser costs without the battery. “This (partnership) is an important step forward in fulfilling our vision for creating a mobility ecosystem that is sustainable, provides cleaner air and helps build smarter cities across the region," <a href="https://www.livemint.com/companies/news/uber-and-sun-mobilty-come-together-to-deploy-e-three-wheeler-in-india-1563953667519.html">said Pradeep Parameswaran</a>, president, <keyword id="2502101" type="PERSON" weightage="20" keywordseo="Uber-India">Uber India</keyword>. Uber earlier partnered with Bengaluru-based Yulu bikes to bring electric bicycles on Indian roads. The Indian government too has been pushing for the growth of EVs in India. There are reports that the government <a href="https://www.businessinsider.in/uber-ola-to-have-electric-vehicles-in-india-by-2026/articleshow/69679364.cms">could </a>ask ride-hailing giants Uber and Ola to replace 40% of their fleet to electric cars by 2026. Uber’s Indian competitor Ola has a subsidiary company Ola Electric which is wholly focussed on e-mobility. Ola Electric recently gained the unicorn status too. From ride-hailing companies to logistics or delivery companies, many entities in the country have been piloting EV projects. Uber Eats is also a part of electric vehicle freight project by the Delhi government called Deliver Electric Delhi. Others driving the EV trend include Amazon, Flipkart, Zomato, BigBasket, and Grofers. See Also: <a href="https://www.businessinsider.in/japans-mitsui-invests-14-million-in-indian-ev-startup-smarte/articleshow/70328611.cms">Japan’s Mitsui invests $14 million in Indian EV startup SmartE</a>

Uber partners with India's first electric car maker for e-autorickshaws

This summer, commuters in the NCR, willing to ditch metros and buses, will have several choices to book their cabs. Apart from <a href="http://www.businessinsider.in/heres-who-is-benefitting-from-ola-uber-drivers-strike/articleshow/57187851.cms">Ola and Uber</a>, they will have two new cab aggregator apps. This would also benefit them in terms of money, owing to the price war between these apps. 
 
Also read: <a href="http://www.businessinsider.in/these-women-ola-auto-drivers-are-changing-Indian-roads/articleshow/57539709.cms">These Women Ola Auto drivers are changing Indian roads</a> 
 
Cabby, the cab aggregator app to be launched today, has been developed by Sahil Arora, a seventeen-year-old school dropout from Gurgaon. The app will have 25,000 operational cabs in NCR, following which it would move to <a href="http://www.businessinsider.in/bengaluru-feel-relieved-as-ola-anduber-drivers-call-off-strike/articleshow/57221582.cms">Bengaluru</a>. 
 
Also read: <a href="http://www.businessinsider.in/online-cab-players-in-2016-completed-nearly-half-a-billion-rides-with-250-y-o-y-growth-in-india/articleshow/57273938.cms">Online cab players in 2016 completed nearly half a billion rides with 250% y-o-y growth in India</a> 
 Cabby would charge a base fare of Rs 37.50 for the first 2 km, followed by Rs 12.5 per km. Arora told ET that this is actually very competitive, and the fare would be lesser than what <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword> and Uber charge. 
 
Also read: <a href="http://www.businessinsider.in/are-ola-and-uber-actually-tryingto-prove-poor-people-should-never-think-big/articleshow/57475233.cms">Are Ola and Uber actually trying to prove “poor people should never think big”?</a> 
 
The second cab-aggregator app to be launched today is from 74 BC Technologies, operational from <a href="http://www.businessinsider.in/UberMOTO-enters-Gurgaon/articleshow/51603369.cms">Gurgaon</a> where it is known for the bike taxi aggregator Baxi. 
 
Baxi is now launching cab services in seven cities including Delhi, Ghaziabad, Gurgaon, Mumbai, Pune, Chennai and Bengaluru. Acting as a technology provider for the app, it will be available free of cost for cab drivers. 
 
"Baxi will not take any commission from the drivers to use their technology platform," said Ashutosh Johri, co-founder of Baxi and an IIT Delhi alumnus. It would charge a base fare of Rs 50, followed by Rs 9 per km. Having around 1,000 cabs in its fleet, it would also have Re 1/minute wait charges. 
 
(Image source: Level Nine Services)

Two new apps to take on Ola and Uber in NCR

<ul><li><keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> is the lead investor in <keyword id="2622993" type="PERSON" weightage="20" keywordseo="Ather-Energy">Ather Energy</keyword>’s latest round of funding where the startup has raised $51 million. </li><li>Bansal has been an investor in the startup since 2014. </li><li>The startup had made news for being one of India’s first startups to start manufacturing <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword>. </li></ul>Sachin Bansal has made another big investment in the Indian startup ecosystem. This time he has returned as an investor on Bengaluru-based <keyword id="599176" type="ORGANIZATION" weightage="20" keywordseo="Electric-Bike">electric bike</keyword> startup Ather Energy. As an angel investor, Bansal had earlier invested $0.5 million in the startup way back in 2014. Ather Energy has raised $51 million in its latest round of funding which was led by Bansal. The electric bike startup had earlier raised funding from Hero MotoCorp and Innoven Capital. The startup had made news for being one of India’s first startups to start manufacturing electric vehicles. In June 2018, the startup’s first bike Ather 450 hit the market. According to the company’s official statement, Ather is now entering an aggressive expansion phase, with the opening of pre-orders in Chennai in the coming weeks, and eventually scaling to 30 cities by the end of 2023. The company is also planning to build a new manufacturing facility which will produce one million vehicles a year. Ather Energy will also set up 6500 Ather Grid fast charging points across the country over the next 5 years with a projected investment of ₹130 crores. “The traditional auto industry is up for a redefinition. Watching Ather closely since my early investment in 2014, I am convinced that the ecosystem that Ather is building with their products is the future of urban mobility. Their focus on end to end customer experience will open up new revenue opportunities and accelerate the adoption of electric vehicles in India,” said Sachin Bansal in a statement. Although Ather Energy’s bikes are at a higher price point, with a starting range of ₹1,13,000, they have managed to gain popularity in Bengaluru. Sachin Bansal, founder of India’s biggest startup exit <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, made $1 billion by selling his stake in his company’s sale to Walmart. While Bansal has been off the entrepreneurial grid ever since then, he has been making multiple investments. Bansal has invested in Indian ride hailing unicorn Ola and also dairy and grocery startup MilkBasket among others. Reports also said that Bansal was in the process of raising funds for his own $1 billion fund. See Also: <a href="https://www.businessinsider.in/sachin-bansals-bacq-invests-200-million-in-milkbasket/articleshow/69095413.cms">Sachin Bansal adds more to his cart, invests ₹200 million in Milkbasket</a> <a href="https://www.businessinsider.in/after-minting-1-billion-from-flipkart-sale-sachin-bansal-is-now-betting-big-on-ola/articleshow/67526383.cms">Watch out Uber. Sachin Bansal gets Ola share after selling Flipkart</a> <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a>

Sachin Bansal rides a bet on electric bike startup Ather Energy

New Delhi, Mar 8 () Vogo, a bike and scooter sharing start-up, is working on increasing the number of vehicles on its platform to about one lakh as it aims to more than double its revenue run rate to USD 120 million in the next one year. The Ola-backed company, which operates in Bengaluru, Hyderabad and Mysore, is also betting on electric mobility and aims to have 20 per cent of its fleet as EVs. "In the last 12 months, we have scaled the number of vehicles on the platform from 200 to 20,000 and the plan is to increase this further to one lakh in the next 12 months," Vogo CEO Anand Ayyadurai told . He further said the company will deepen its presence in Bengaluru and Hyderabad, and is also exploring entering cities like Ahmedabad and Vijayawada. "This will be towards the end of the year," he said, adding the company currently has about 20,000 vehicles across 500 spots. Founded in 2016, the company recently raised USD 19 million (around Rs 136 crore) in a funding round led by LGT Lightstone with participation from existing investors like Matrix Partners and Kalaari Capital. Vogo had previously raised money from ride-hailing firm Ola and Stellaris Venture Partners. In December 2018, it had formed a strategic partnership with Ola to boost Vogo's supply by putting in one lakh scooters on its platform. Talking about its electric mobility plans, Ayyadurai said EVs form a big part of the company's focus. "Currently, the number is small, about 200 but over the next three years, as we scale to about 3 lakh two-wheelers, we expect about 20 per cent of them to be electric vehicles," he added. He said the company's current average revenue run rate is about USD 50 million and Vogo expects this to grow to USD 120 million in the next 12 months. "In the next 24 months, we would want to hit profitability," he added. Asked about recent layoffs, Ayyadurai said the company has been working on ensuring that Vogo is a low-friction platform. "Over the last 6-9 months, we have been able to automate our entire fleet. So users can come and using their phones, get access to bikes. We don't need someone manning the docks anymore. New features that we now build in will be incremental in nature and wouldn't really need us to start from scratch. Therefore, we undertook a restructuring and about 40 people were let go from the IoT team and a few other roles were shed," he said. He added that the company now has about 260 people. "However, we continue to hire in business development and software engineering roles," he said. SR KPM ABMABM

Vogo eyes revenue run rate of USD 120 mn, bets big on EVs

<keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, India's largest app-based cab aggregator has stood in favour of Karnataka's new regulations that ask for governing tech-based cab hailing services. It has also accused its arch rival, the multinational cab-aggregator company <keyword id="2502101" type="UNKNOWN" weightage="100" keywordseo="Uber-India">Uber India</keyword>, of flouting all Indian norms and working in India only for its profit. 
 Ola has also said that it is the only cab aggregator that has been issued a license under the new regulations, and it’s because it satisfies all the conditions laid down by the government. On <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> challenging the laws, it said that the petition was "motivated and has been filed in an attempt to bypass the laws of the land by foreign companies who run their operations in this country for profit without due regard for the applicable laws." 
 
It added that Karnataka government has framed the rules with the primary object "to promote and ensure the safety of the user-riders availing the services of aggregators... The rules emphasize the need to provide safety and security to the user-riders." 
 As per Additional Advocate General <keyword id="3449750" type="UNKNOWN" weightage="100" keywordseo="A-S-Ponnanna">A.S.Ponnanna</keyword>’s submissions before Justice Aravind Kumar, the Karnataka government will not allow any aggregator to offer white-board (non-passenger) vehicles on their platforms. To this, Ola, in the affidavit that it filed, said that it does not operate any private vehicles on its platform, but also accused Uber of offering such services in the form of bike-taxies in Gurgaon and car-pooling in Bengaluru. 
 
It added that Uber has been allowing private vehicles without valid contracts and permits on its platform, under the name of car-pooling. 
 
<a href="http://s1.ibtimes.com/sites/www.ibtimes.com/files/2015/03/23/rtr4rwgx.jpg">Image source</a>

Uber is a foreign firm working in India only for profits, says Ola

Keeping in mind the vast online commuter market, India’s top cab aggregator, <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is now prepping-up to introduce <keyword id="3071546" type="UNKNOWN" weightage="20" keywordseo="motorcycle-taxis">motorcycle taxis</keyword>. 
 The Bangalore-based cab aggregator also plans to launch a shuttle bus service. Not just this, but Ola users will now be able to avail <keyword id="3072073" type="UNKNOWN" weightage="20" keywordseo="car-pooling">car-pooling</keyword> feature on its mobile application, reported The Economic Times. 
 
The motorcycle taxis and shuttle service, however, might face regulatory issues as these do not have any legal frameworks so far. 
 
Internal sources, requesting anonymity, informed that the bike taxis will be on the lines of Indonesia's GoJek, Blue-Jek and Grabbike, which is being used to transport people as well as goods. 
 Another major add-on to the mobile application, <keyword id="3071503" type="UNKNOWN" weightage="20" keywordseo="OlaShare">OlaShare</keyword>, is being worked-on for quite some time now. The company, however, declined to respond on the email queries by the business daily. 
 
The firm is also in the <a href="http://www.businessinsider.in/Ola-Cabs-new-round-of-fund-raising-to-value-it-above-5-billion/articleshow/49072304.cms">advanced stage of closing a financing round</a> of about $500 million (Rs 3,000 crore), which will give a muscle to the firm for its forthcoming plans. 
 The new services, if compared to the other cab-service providers, might give a tough fight to San Francisco-based <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword>, which is targeting to enhance its business outside the US with India being one of the most potential markets. 
 
<a href="http://www.businessinsider.in/Uber-hopes-to-make-India-its-second-largest-market-sees-Ola-as-competition/articleshow/49087294.cms">(​Uber hopes to make India its second-largest market, sees Ola as competition)</a> 
 
Uber, however, introduced UberPool, its car-pooling service in India, starting with Bengaluru. 
 
Kartik Hosanagar, a professor of technology and digital business at The Wharton School termed the bike-taxi move an interesting one and said, "As of now, it should be seen as an experiment. But one with tremendous potential for Ola... However, the company would have to navigate around regulations." 
 
HeyTaxi, a Mumbai-based motorcycle-taxi company which was launched in June, came under fire from the city's transport department, which has termed the service illegal. 
 A top official at <keyword id="151058" type="ORGANIZATION" weightage="20" keywordseo="Delhi-Transport-Department">Delhi Transport Department</keyword> said the state was framing a scheme for a motorcycle-taxi service but there were issues to consider. "As of now it will be deemed illegal. We were planning to launch such a service in Delhi but have put it on hold due to safety concerns," he said. Instead, Delhi launched a scheme for renting self-driven motorbikes in August. 
 
Car-pooling services, too, are in a regulator grey zone. Several state governments encourage personal carpooling as a way to lessen traffic and pollution, but as a business, the service is not covered under any legal framework. 
 
Safety is another area of concern, as riders would have to car-pool with strangers. Meru Cabs verifies co-riders with their PAN or Aadhaar numbers while BlaBlaCar mandates a social network account such as Facebook for logging in. 
 
Experts, on the other hand, agreed upon the fact that car-pooling as a business has huge potential. 
Image: thinkstock

Ola is going for the kill! Uber already sees it as competition

<ul><li>Bansal has just bought a majority stake in CRIDS and has taken over as CEO. </li><li>He had sold his 5.5% stake for $1 billion in <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>’s sale to Walmart. </li><li>He has gone on to make several <keyword id="6362476" type="UNKNOWN" weightage="20" keywordseo="investments">investments</keyword> in the Indian startup ecosystem.</li></ul>Flipkart founder and former CEO <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> is now back as a CEO again. After months of speculation over his next possible venture in the financial services segment, Bansal bought a majority stake in CRIDS and took over as CEO. Bansal exited from Flipkart after its $16 billion acquisition by global retail giant Walmart in 2018. He sold his 5.5% stake for $1 billion. In a note that he released right after his exit from the company he had built for 10 years, Bansal had said that he would spend time on ‘pending projects, gaming and brushing up his coding skills’. While he made personal investments even while running Flipkart, he later founded a firm called BAC Acquisitions. Here's a look at all of his investments since his much-talked about exit from Flipkart. CRIDS Bansal picked up a majority stake in Bengaluru-based microfinance company Chaitanya Rural Intermediation Development Services (CRIDS). According to<a href="https://tech.economictimes.indiatimes.com/news/startups/sachin-bansal-invests-rs-740-cr-in-chaitanya-rural-intermediation-development-services/71294091"> ET</a>, the former Flipkart CEO bought a 94% stake in the company. While he took over the role of CEO, Bansal in a statement called it, his ‘entry into financial services’. <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> His first investment after Flipkart and also his biggest, was a $21 million investment into cab hailing unicorn Ola. Bansal’s investment fetched him 70,588 series J preferred shares at a price of ₹21, 250 per share. <keyword id="53189" type="ENTERTAINMENT" weightage="20" keywordseo="boat">boAt</keyword> He also made an offbeat investment in audio brand boAt, via BAC Acquisitions. The brand which is known for its affordable speakers, received ₹20 crores as a part of venture debt. The three-year old boAt has already registered ₹100 crore revenue in FY'18 and is eyeing ₹500 crore in the next couple of years. Piramal Enterprises Bansal invested ₹200 crore in Piramal Enterprises’ debt, and subscribed to its non-convertible debentures (NCDs). <a href="https://www.livemint.com/companies/news/sachin-bansal-invests-200-cr-in-piramal-enterprises-debt-1563126810412.html">Piramal Enterprises</a> will infuse these new funds into its financial services sector. Ather Energy He has also invested in a Bengaluru-based electric bike startup, Ather Energy. While the amount invested is not known, he led the $51 million round. As an angel investor, Bansal earlier invested $0.5 million in the startup in 2014. The startup claims to be one of India’s first startups to manufacture electric vehicles. In June 2018, the startup’s first bike Ather 450 hit the market. Vogo and Bounce In April 2019, through his firm BAC Acquisitions, Bansal invested in scooter rental startups Vogo and Bounce. He Bansal had pumped in $3 million into each startup. Interestingly, Bansal’s other investment Ola had also pumped in a major $100 million into Vogo. With that, Vogo’s scooters are also listed on Ola for rental. Bounce is also backed by Sequoia Capital and Accel Partners. NBFCS In <a href="https://www.livemint.com/companies/start-ups/sachin-bansal-invests-in-altico-indostar-cap-1551115360930.html">February 2019</a>, Bansal invested in two non-banking financial companies (NBFCs) – Altico Capital India and IndoStar Capital Finance. In the same month, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/sachin-bansal-plans-to-foray-into-fin-services/articleshow/68088962.cms">ET</a> said that Bansal reportedly made queries at the Reserve Bank of India, to understand the regulations necessary to start a bank. Meanwhile, in May 2019, Bansal <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/flipkarts-sachin-bansal-joins-ujjivan-small-finance-bank-as-director/articleshow/69585188.cms">joined</a> Ujjivan Small Finance Bank as its independent director.

Sachin Bansal is now a CEO again. Here’s a look at his investments since his Flipkart exit

<ul><li>Uber asked the Delhi government to allow them to use 5,000 bike-taxis during the odd-even scheme. </li><li>As of now, regulations do not allow bike-taxis to operate in Delhi. </li><li>The company also proposed to re-deploy 2,500 bikes from its food delivery network (UberEats) to work as bike-taxis. </li></ul> US-based ride hailing platform Uber has made a submission to the Delhi government offering use of 5,000 bike-taxis to improve first and last mile connectivity during the odd-even scheme to be implemented next month, according to sources. Currently, regulations do not allow bike-taxis to operate in Delhi. According to sources, Uber has made the submission to the Delhi government proposing to deploy 5,000 bike-taxis to help ferry one lakh commuters to and from Metro stations every week. The service is proposed to be offered for a fee of Rs 5 per ride, they added. The company, which competes with Bengaluru-based Ola, has also proposed to re-deploy 2,500 bikes from its food delivery network (UberEats) to work as bike-taxis during the odd-even scheme that will be implemented from November 4-15. Uber did not respond to e-mailed queries on the matter. A Delhi government official said a proposal was received from the cab aggregator but no decision has been taken on it as yet. One of the persons aware of the development said bike-sharing provides a huge opportunity to unlock the potential of shared mobility through optimal utilisation of existing vehicles on the road. The person said Uber, in its submission, has cited data that one out of two UberMOTO trips in Gurugram began or ended at a Metro station, while one in four such trips in Noida began or ended near a Metro station. The odd-even scheme has been proposed as part of a slew of measures to combat high level of air pollution in Delhi caused due to stubble burning in neighbouring states during winters. During the 12-day scheme, vehicles will ply alternately on odd and even dates as per their registration numbers. In the previous two experiments in January and April in 2016, a fine of Rs 2,000 was imposed on violators of the rule. In the past, two-wheelers and female commuters were exempted from the rule.

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