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Bike taxi, scooter-sharing start-ups rating massive as Ola & Uber battle to satisfy demand

An acute scarcity of gig economic system drivers on app-based cab aggregators corresponding to Ola and Uber is driving demand elsewhere into micro-mobility platforms that supply two-wheeler leases, bike taxis and bike-sharing providers. In keeping with knowledge collected from micro-mobility start-ups like Rapido, Yulu, and Zypp Electrical, demand for his or her providers has shot up by a minimum of two to 4 instances within the final yr alone, outstripping demand previous to the pandemic.

Bike taxi and auto-hailing platform Rapido has seen a 2X-spike in demand this yr, with every day rides outstripping provide in some cities. Rohit Rathod, head of operations, Bike Taxi & B2B, at Rapido, informed FE the development is seen in most metropolitan and Tier-1 cities like Bengaluru, Delhi-NCR, and Hyderabad. In April, Rapido had raised $180 million in its sequence D spherical of funding led by new investor Swiggy and others, marking a return of funding influx into mobility start-ups which had stagnated post-pandemic.

“Previous to [the Covid-19 outbreak] in 2019, Rapido’s bike taxi platform had round 60,000 rides per day in Hyderabad. This has now elevated by nearly 2X to round 120,000 rides per day on this metropolis alone. We nonetheless have plenty of potential to construct up new provide, since we’re presently capable of service solely 80% of all bike taxi journey requests in Hyderbad,” Rathod mentioned.

Autorickshaw rides are additionally seeing a spike in demand from every day commuters. Rathod mentioned Rapido’s auto-hailing service in Bengaluru alone presently operates over 100,000 rides per day, up from round 80,000 rides simply eight months in the past.

“General, our distinctive registration numbers have gone up from 800,000-900,000 sign-ups per thirty days in 2020 to round 1.6-1.7 million per thirty days presently. This can be a large indicator that we could have to scale up our provide in our high cities, and we are actually buying near 100,000 bike taxi captains on our platform each month to extend our provide base,” he mentioned.

The vast majority of the demand for Rapido’s bike taxi service comes from metro cities, with 20% of the quantity originating from non-metro cities corresponding to Chandigarh, Coimbatore and Indore.

Electrical vehicle-based scooter-sharing start-up Yulu has additionally witnessed a requirement spike in most metro areas the place it operates. In response to queries from FE, Yulu mentioned it has witnessed wholesome development in each company and client segments as extra individuals begin returning to their work areas in H2 2022. Yulu is among the most-funded start-ups within the mobility house, having raised over $25 million in financing from buyers corresponding to Bajaj, Rocketship.vc and Blume Ventures.

“Whole rides taken day-after-day on our bikes have gone up 40% from earlier this yr to now. Our enterprise sees gentle and short-term spikes as a consequence of fluctuation in availability of cabs, however the general demand is sort of sustained and rising. Even repeat customers have seen a 30% development, with long-term rental subscriptions contributing to over 65% of our enterprise,” mentioned a Yulu spokesperson.

The corporate can also be planning to deploy 100,000 EVs within the subsequent yr, with practically 15,000 being infused into the market month-to-month. The corporate can also be launching a purpose-built electrical two-wheeler referred to as ‘Dex’ for supply, targeted on gig economic system staff.

Gurugram-based Zypp Electrical, which additionally gives e-scooter-based leases and bike-sharing, informed FE the platform has witnessed a big spike in ridership ranging from January.

“Owing to this improve in demand now we have expanded and doubled our fleet from 2,500 e-scooters to five,000 e-scooters up to now few months. We’re planning so as to add one other 5,000 autos to our fleet by Q3 2022, along with the partnership with Hero Electrical to deploy 150,000 autos by the top of 2023,” mentioned Akash Gupta, co-founder & CEO, Zypp Electrical.

Zypp’s month-on-month sign-up charge has elevated to nearly 300%, principally led by gig economic system staff who’re searching for different mobility choices which are inexpensive when in comparison with fossil fuel-based two-wheelers.

“We plan to deploy 50,000 extra fleets this yr since now we have been getting requests for onboarding and rising our help to well-liked e-commerce, quick-commerce and repair manufacturers. Their curiosity in partnering with us isn’t just restricted to autos but additionally for help in extending a fleet of gig economic system staff owing to the shortages,” Gupta mentioned.

Not too long ago, client web aggregators within the grocery and meals supply house have witnessed outages and delays in operations as a consequence of a scarcity of gig economic system staff. Commuters have highlighted poor cab acceptance charges on Ola and Uber beginning this yr, with social media platforms corresponding to Twitter and LinkedIn rampant with comparable complaints.

Grocery supply and meals supply start-ups corresponding to Zepto, Swiggy, Blinkit and Zomato have seen their supply timings being prolonged, with some even witnessing short-term service outages. Final month, Swiggy’s parcel pick-up-and-drop service ‘Swiggy Genie’ was briefly suspended in a number of cities as the corporate scrambled to maintain up with the expertise crunch throughout gig economic system staff.

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