Compared to the ride-sharing and ride-hailing market, the bike rental market is a newer market with a potential of exponential growth rate. Owing to this, funding from various bike rental companies has been secured all across the globe. Some of the major ones include Bounce, Cityscoot, Bolt Bikes, and Bird Rides.
In January 2020, India based shared mobility startup Bounce secured $105 million in the Series D funding from Accel and B Capital Group. By the funding, the startup will augment its electric vehicle (EV) integration, platform play and will try to remain profitable. The startup is offering dockless scoters in two cities of India that is Hyderabad and Bengaluru with a fleet of 13,000 and 2,000 respectively. Moreover, the company also offers its rental services in more than 35 cities in the country.
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The French startup Cityscoot is an emerging player in the bike rental market. The company offers electric scooters on a rental basis, and a user can locate and unlock scooters using a mobile application. The company is operating in Paris, Nice, Milan, and Rome and has plans to expand to Barcelona by mid of 2020. In February 2020, the company raised fresh funding of $25.6 million from Allianz France, Demeter among others. In the same months, some days earlier to the funding the company had raised around $50 million from RATP Capital Innovation and Inventure Partners, and so on. Earlier to this in October 2019, it also partnered with Uber Technologies, Inc., and after the partnership, the user is able to locate the Cityscoot fleet in the Uber mobile application.
Besides, the Australia based company Bolt Bikes raised a funding of more than $2.5 million lead in November 2019. The aim of the funding is to expand its business in the US and UK. The company offers subscription especially to the gig workers with full maintenance and customer support. The company is also offering electric bikes with a subscription cost of around $40 per week.
Bird Rides, Inc., a US-based dockless electric scooter startup raised $275 million in October 2019 led by Sequoia Capital and CDPQ in its series D funding. After the funding, the valuation of the company has increased to $2.75 billion. Earlier to this, the startup secured a funding of $158 million in Series C funding. With the increase in traffic congestion and ownership cost of the vehicle, the investors are anticipating a trend of shifting to economical bikes for daily transportation which will provide the probability to these startups in the long run.
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Bike Rental Market Segmentation
By Vehicle Type
- Motor Bike
- Scooter
By Propulsion Technology
- Gasoline
- Electric
- Pedal
By Operation Mode
- Dockless
- Docked
Regional Analysis
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
