With startups like Zoomcar who rent out self-driven cars becoming increasingly popular, this trio got an idea for a startup in the similar space. A lot of foreigners and tourists mostly youngsters, rent bikes and travel rather than taking cars, which are more expensive and high maintenance on a trip. This has been a tradition for quite a while now, but this sector was very unorganized and chaotic, up until the advent of WheelStreet, Bengaluru-based startup offering bikes for rent.
Launched in 2014, Wheelstreet provides a service much like ZoomCar, but with bikes and two wheelers. It is based on an aggregator model which connects the user with the various vendors. This is done via an online platform where a potential customer can view all the bikes available on rent along with their tariffs, pickup locations, and online payment options. They form the bridge between the service providers and the vendors. They offer variable rental durations, zero deposit and unlimited kilometers to our customers.
This platform not only organizes the sector and benefits the vendors but is also very useful to the customers as well. Problems like overcharging, lack quality control, unethical deductions and unavailability of the bikes customers need are just a few problems that customers face on a regular basis. With WheelStreet, these problems vanish because everything is now out in the open.
The team behind the startup comprises of three co-founders - Pranay Shrivastava (CEO), Moksha Srivastava (CMO) and Mrityunjay Jha (COO).
Moksha Srivastava CMO and the Spokesperson for the startup. She is a Mass Communication and journalism graduate and post graduated from Indian Institute of Mass Communication, New Delhi. Interstingly, Moksha varied career also included a stint as a radio jockey for 92.7 BIGFM in 2012-2013.
Pranay Shrivastava is an engineering graduate currently holding position of CEO of the startup. He has been intern at Grabhouse as well, before starting Wheelstreet
Mritunjay Kumar is a fresh engineering graduate and belongs to the cit of Jhansi. He is currently looking WheelStreet operations in New Delhi area .
There are plenty of people out there in the market who are renting out bikes, but we stand out because we are the first bike rental platform that is an aggregator and not a vendor in itself. Wheelstreet is a provider of technology and support to the bike rental industry and not another player in the market. The bikes you see listed on their platform come from various vendors at various locations. Rather than buying bikes and renting them out, they created a platform where vendors could list themselves and in turn helped organize this sector.
The major target market for the startup comprises of tourists. These days tourists, and especially youngsters prefer to take bikes and explore rather than dragging around a car everywhere. Apart from this, foreigners who come to visit are also the kind of people who look for adventure on a bike. These two sectors of people are the ones being targeted by the startup.
Wheelstreet, in March 2016, has raised USD 0.5 million (around Rs 3.4 crore) from Broadbean Capital services, an early-stage seed, and pre-series A venture fund.
Wheelstreet operates with around 2000 bikes comprising of Royal Enfield, Harley Davidsons, Kawasaki and more. They have completed over 20,000 rides in both Bangalore and Delhi till date and have received over 1,500 bookings per month. Wheelstreet is currently generating around INR 40 lakhs per month in revenue.
Next, on their agenda is geographical expansion. They have started with Delhi and moved to Bangalore too. Soon they plan to expand to Pune and Hyderabad as well and then they will move onto another 15 cities on their list.
THE IDEA
Launched in 2014, Wheelstreet provides a service much like ZoomCar, but with bikes and two wheelers. It is based on an aggregator model which connects the user with the various vendors. This is done via an online platform where a potential customer can view all the bikes available on rent along with their tariffs, pickup locations, and online payment options. They form the bridge between the service providers and the vendors. They offer variable rental durations, zero deposit and unlimited kilometers to our customers.
This platform not only organizes the sector and benefits the vendors but is also very useful to the customers as well. Problems like overcharging, lack quality control, unethical deductions and unavailability of the bikes customers need are just a few problems that customers face on a regular basis. With WheelStreet, these problems vanish because everything is now out in the open.
MEET THE MAKERS
The team behind the startup comprises of three co-founders - Pranay Shrivastava (CEO), Moksha Srivastava (CMO) and Mrityunjay Jha (COO).
Moksha Srivastava CMO and the Spokesperson for the startup. She is a Mass Communication and journalism graduate and post graduated from Indian Institute of Mass Communication, New Delhi. Interstingly, Moksha varied career also included a stint as a radio jockey for 92.7 BIGFM in 2012-2013.
Pranay Shrivastava is an engineering graduate currently holding position of CEO of the startup. He has been intern at Grabhouse as well, before starting Wheelstreet
Mritunjay Kumar is a fresh engineering graduate and belongs to the cit of Jhansi. He is currently looking WheelStreet operations in New Delhi area .
USP
There are plenty of people out there in the market who are renting out bikes, but we stand out because we are the first bike rental platform that is an aggregator and not a vendor in itself. Wheelstreet is a provider of technology and support to the bike rental industry and not another player in the market. The bikes you see listed on their platform come from various vendors at various locations. Rather than buying bikes and renting them out, they created a platform where vendors could list themselves and in turn helped organize this sector.
TARGET MARKET
The major target market for the startup comprises of tourists. These days tourists, and especially youngsters prefer to take bikes and explore rather than dragging around a car everywhere. Apart from this, foreigners who come to visit are also the kind of people who look for adventure on a bike. These two sectors of people are the ones being targeted by the startup.
FUNDING
Wheelstreet, in March 2016, has raised USD 0.5 million (around Rs 3.4 crore) from Broadbean Capital services, an early-stage seed, and pre-series A venture fund.
PLAN OF ACTION
Wheelstreet operates with around 2000 bikes comprising of Royal Enfield, Harley Davidsons, Kawasaki and more. They have completed over 20,000 rides in both Bangalore and Delhi till date and have received over 1,500 bookings per month. Wheelstreet is currently generating around INR 40 lakhs per month in revenue.
Next, on their agenda is geographical expansion. They have started with Delhi and moved to Bangalore too. Soon they plan to expand to Pune and Hyderabad as well and then they will move onto another 15 cities on their list.
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