What is Mobyc? Mobyc Review

About the Company

Zypp was formerly known as Mobycy and was founded in August 2017. Its operating parent company is Bycyshare Technologies Private Limited. Its two founders and CEOs are Akash Gupta and Rashi Agarwal.

Business Model

The company's business model allows users to use a mobile phone APP to search for available bicycles nearby, then unlock the bicycle by scanning a QR code, and park the bicycle at the destination after the ride is completed. The price of its shared bicycles is one rupee per hour, but a certain deposit is required, while students only need to pay half the price, of course, this fee will eventually be refunded to the user.

Financing

In November 2017, Mobycy, India’s first bike-sharing startup, received $1 million in seed funding, but the investor information was not disclosed.

In November 2018, electric bicycle and shared bicycle startup Mobycy completed its angel round of financing, led by the well-known startup incubation platform Venture Catalysts, and participated in by some angel investors from the platform, including Syed Faiz, Gaurav Juneja, Ayush Agarwal and Bhaskar Raju.

In February 2019, Indian electric scooter startup Mobycy completed a US$10 million Series A financing round invested by Venture Catalysts.

In November 2019, Zypp, an Indian electric scooter commuting service company, completed a pre-A round of financing of 150 million rupees, led by IAN Fund and participated by a group of angel investors under the Indian Angel Network.

References

• 1. Indian electric scooter startup Mobycy completes $10 million Series A financing: Maker Cat [cited date 2019-02-12T16:00:00.000Z]
• 2. Indian electric scooter commuting service company Zypp completes 150 million rupees pre-A round of financing: Zhudao [cited date 2019-11-17T16:00:00.000Z]
• 3. Indian bike-sharing startup Mobycy completes angel round financing: White Whale goes global [cited on 2018-11-05T16:00:00.000Z]