ezBike raises $1 million in pre-seed funding

Zahid Lilani
ezBike raises $1 million in pre-seed funding
ezBike raises $1 million in pre-seed funding

ezBike, an Islamabad-based mobility startup, raised $1 million in pre-seed funding from i2i Ventures, Walled City, and GroundUp. 

Elevator Pitch: All the benefits of owning an electric bike, but without the hassle of ownership.

Make me care: Pakistan has a smog problem. The country ranks 3rd for air quality in the world. 

Pollution in the country is primarily caused by transportation. U.N.’s Food and Agriculture Organization estimates that 43% of Punjab’s smog is from transport.

Tell me more: ezBike believes it will make a dent in improving the air quality in Pakistan.

Amidst high air pollution and skyrocketing petrol prices, it sees an opportunity for two-wheel electric vehicles.

There’s no better time to address air pollution and slowly transition the country to EVs than now.

I am listening: ezBike provides comfortable and affordable rides through its dockless and keyless rental bike rides. 

Just bring your helmet.

How it works: After you download the ezBike app:

  1. Look for the closest bike.
  2. Reserve it and head to the bike. 
  3. Scan the QR code on the bike’s handle to unlock it and start your ride.
  4. End your ride by parking your bike in any green zone and hitting End Ride on the app.

ezBike will charge you for the time used, not the distance covered. More details are available on the app.

And the best thing is, renting an ezBike doesn’t require you to have a driver’s license. Though, it is recommended. 

By the numbers: 

A $20B market opportunity exists for two-wheel electric vehicles in Pakistan, according to the founders of ezBike. 

ezBike’s solution will cost 80% less than comparable petrol motorcycles and will be operated at half the cost.

You should know: ezBike was founded in 2020 by Mohammad Hadi and Ali Moen.

Zoom out: ezBike plans to use the funding to develop a robust ecosystem for electric two-wheelers. 

This includes an assembly facility for scooters, a charging station for lithium-ion battery production, and a network of battery swapping stations.

Total
57
Shares
Related Posts
Sign up to receive a concise summary of one startup-related news story sent straight to your inbox.
Keep me informed
Total
57
Share