Royal Brothers is a renowned bike rental company that was founded by Abhishek Chandrasekhar in the year 2015. The company raised a seed funding of Rs 1.8 Crore in the very year of its inception. With time, Royal Brothers have since increased the size of its fleet to include 1700 bikes in all parts of 17 plus cities in states consisting of Telangana, Rajasthan, Gujarat, Kerala, Karnataka, and Andhra Pradesh. In addition to that, the widely renowned bike rental company also offers a wide range of two-wheelers, intercity bike rentals, and doorstep delivery option. Therefore, customers can pick up a vehicle in one city and drop it off in another once their purposes are fulfilled.
Bike rental company Royal Brothers raised $1 million in the pre-series A round. Furthermore, the company announced that it consisted of a mix of primary and secondary share purchase. Pradeep Deviah, Chairman and CEO of PDA Trade Fairs, angel investor Amrith Prasad et cetera were the investors who also participated in the round. Moreover, Royal Brothers are South India’s first licensed bike rental company, and it plans to strengthen the company’s inventory across all existing cities. Not just that, the funds raised help Royal Brothers to spread more awareness and develop a flourishing market for bike rentals.
With this round of investment, Royal Brothers will be able to expand their footprint and have an increased presence in all parts of India. Additionally, the CEO and Director of Royal Brothers made a statement regarding the company’s future plans. He said that the funds would help Royal Brothers in growing their inventory and teams in all parts of new and existing markets. To put it simply, it will give a significant boost to their market share within no time. Last but not least, the bike rental company plans to expand to five more states which include ten new cities over the next six months.
Despite being consistently bootstrapped, the team at Royal Brothers has put in excellent efforts to grow the company and expand its operations.
Their invincible dedication and fervor to develop bike rental space in our country have given a great deal of confidence to potential investors to invest in the company.
Get in touch with the team today.
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