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Founded
2019
Headquarters
Delhi (India)
Status
Series A
Company Details
Baaz is a technology-driven electric mobility platform focused on enabling efficient, sustainable last-mile delivery. The company offers a vertically integrated ecosystem comprising purpose-built electric scooters, battery-swapping infrastructure and fleet management tools, tailored to meet the operational needs of gig economy workers and logistics businesses.
Core Product and Services
- Electric Scooters for Deliveries: Purpose-built EVs designed for gig workers and hyperlocal delivery, with focus on durability, low maintenance and affordability.
- Battery Swapping Network: Operates a network of automated battery swap stations to ensure minimal downtime and uninterrupted operations.
- Integrated Fleet Platform: Provides end-to-end fleet management tools including GPS tracking, diagnostics and analytics for delivery operators.
- Subscription-Based Ownership: Offers electric scooters on subscription or lease models, reducing upfront costs for riders.
- After-Sales Support: Includes servicing, maintenance and customer support to ensure operational reliability.
- B2B Solutions: Partners with logistics firms, e-commerce companies and aggregators to enable large-scale EV deployment for last-mile delivery.
Business Model and Revenue Streams
- Asset-Light EV Deployment: Baaz designs and supplies electric scooters tailored for last-mile delivery but retains flexibility by offering them via leasing or subscription rather than outright sales.
- Battery-as-a-Service (BaaS): Riders and partners access a seamless battery swapping infrastructure, enabling continuous operations without long charging downtime.
- Fleet-as-a-Service (FaaS): Offers bundled EV, battery and tech-enabled fleet management services to enterprises, reducing operational hassles for delivery firms.
- Vehicle Subscription Fees: Monthly or periodic fees from gig workers or delivery partners using Baaz’s EVs on a lease/subscription model.
- Battery Swap Charges: Recurring income through pay-per-swap or energy subscription models for using Baaz’s battery stations.
- Enterprise Partnerships: B2B contracts with logistics, food delivery and e-commerce firms for deploying and managing EV fleets.
Key Metrics
Total Equity Funding
$10.9 Million
No. of Funding Rounds
8
Latest Funding Round
$18.0 K, Series A
as of August 9, 2024
Post Money Valuation
$30.8 Million
as of August 9, 2024
Funding Multiple
2.35×
as of August 9, 2024
Investors
Rakuten Capital
and 4 moreEmployee Count
190
Similar Companies
Parkobot
Exit Details
-
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| August 9, 2024 | Series A | $18.0 K | $30.8 Million | - | - | Alteria Capital |
| May 23, 2024 | Series A | $41.8 K | - | - | - | Alteria Capital |
| November 21, 2023 | Series A | $8.0 Million | $30.5 Million | $459.0 K | - | Rakuten Capital, BIG Capital, Kalaari Capital, 100Unicorns, NSJ, Stormwater Advisors |
| February 22, 2022 | Seed | $2.0 Million | $5.9 Million | $28.7 K | 136.3x | Kalaari Capital, AdvantEdge, 100Unicorns |
| February 22, 2022 | Seed | $2.0 Million | $5.9 Million | $28.7 K | 136.3x | Kalaari Capital, AdvantEdge, 100Unicorns |
| April 6, 2021 | Seed | $207.0 K | $1.4 Million | $86.7 K | 13.9x | 100Unicorns, AdvantEdge Corporate: ReNew |
| June 21, 2019 | Seed | $115.0 K | $631.0 K | - | - | AdvantEdge, Calabasas Ventures |