Is Cycle-sharing The Next Big Thing In India?

Picture credit : website

With growing population and commercial spaces, an employee has been further distanced from his / her workplace. Every day employees spend 2-3 hours in traffic on an average in the metropolitan cities. Though metros are both convenient, cheaper and quicker, the employee spends Rs 100 ($1.8) on an average to reach the nearest metro station.

When calculated, the home-metro-office-metro-home (HMOMH) alone costs Rs 5,000 ($80) per month if the employee intends to reach the office on time. From this problem sprouted the idea of cycle-sharing. Even developed countries like the US did not have required infrastructure facilitating the cycle-sharing startups.

Though there are over 10 bicycle-startups in India, only Mobycy and Yulu have received venture capital funding. With over 700 bicycles and 2000 rides daily, Mobycy is serving in 15 cities. Yulu is currently offering its services in Bengaluru and Pune cities.

‘The cycle-startups help us with connectivity to transport terminals and other short distances. They exactly solve our purpose, at unbelievable pocket-friendly prices. Previously, I used to spend Rs 250 daily on the HMOMH trip, and now I’m just spending Rs 50 (out of which Rs 30 for metro), thanks to Mobycy’, said an employee.

Picture credit: website

Based on price list from Mobycy website, it offers both Pay Per Ride, as well as the 30-day subscription model. The Pay Per Ride services start at Rs.5 (<10c) for 30 minutes. Yulu pricing is quite similar, however, it’s price per trip costs Rs. 10 for initial 30 minutes followed by Rs. 5 for subsequent 30-minute trips.

Industry experts believe that, with tourism and urbanization on the rise, the bicycle-startups have a bright feature.

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