Baaz Bikes Board Approves $4.91M Series B Led by BIG Capital

Scooters, batteries and service capacity share a claim on the next rupee going into Baaz Bikes. The Indian mobility company has built a subscription business around keeping those pieces connected for delivery workers, giving its latest financing a purpose that extends well beyond manufacturing another vehicle.

Baaz's board has approved a Series B share issue worth ₹46.22 crore, approximately $4.91M, according to Entrackr's November 13, 2026 report on regulatory filings. BIG Capital is leading, with Kalaari Capital and Aravind Sanka participating. The financing remains an ongoing round at the board-approval stage; the report does not establish a final close.

The proposed spending covers capital expenditure, product development and working capital. For a company combining scooter access with battery swapping and servicing, those uses describe connected operating responsibilities: equipment must be available, the product must keep improving and the network must remain supplied while riders work.

What Baaz Bikes' Series B approval covers

Entrackr reports approval for 6,105 Series B preference shares at ₹75,716 each. BIG Capital is expected to contribute ₹38 crore, Kalaari Capital ₹8 crore and Aravind Sanka the balance. Entrackr describes the issue as potentially part of a larger fundraise, leaving the eventual size open.

The approximate dollar equivalent uses the RBI-published FBIL reference rate of ₹94.1997 per US dollar for November 13. Keeping the original rupee amount beside that conversion preserves the terms being reported. Currency translation provides reader context without changing the amount authorized by the board.

Baaz's funding history already includes an $8M Series A led by BIG Capital in 2023. The company's current website also points to an extended Series A in July 2025 and describes prior funding above $12M. That earlier capital belongs to the company's history; adding a proposed issue to it would produce a cumulative figure that runs ahead of the available closing evidence.

Returning investors bring knowledge of the existing operation into this decision. Their participation connects the financing to equipment and a service model already developed, while the announced uses keep the focus on resources the company needs to operate. The mix of physical investment and working capital is particularly relevant for a subscription business whose customers pay over time.

Four founders built around the delivery worker

Kalaari Capital's portfolio record identifies Anubhav Sharma, Shubham Srivastava, Abhijeet Saxena and Karan Singla as Baaz's co-founders. Sharma is CEO; YourStory and Crunchbase identify Srivastava as CTO. Kalaari dates the company's founding to 2019 and its own initial investment to the pre-Series A stage in 2022.

AdvantEdge Founders' company account describes working with the IIT Delhi engineering team from inception and leading its first funding round in 2019. That account places rental partners alongside delivery workers in the commercial model. A vehicle designed for this setting must make sense to the person using it and to the operation responsible for keeping it available.

The distinction affects what Baaz sells. Subscription access can reduce the purchase a rider needs to make before starting work, but the surrounding business still has scooters, batteries and service arrangements to organize. Costs and coordination move into a continuing relationship, where the rider's next payment depends on finding the service useful again.

The official site lists a corporate office in Gurugram, a registered office in New Delhi and manufacturing in IMT Manesar. Those locations put engineering, corporate activity and physical production inside the same company story. The financing therefore reaches an organization with responsibilities across several places, even when the customer experiences the offering as one subscription.

Battery coverage gives the subscription its geography

Baaz currently describes Delhi NCR as live on its website, with Bengaluru and Mumbai marked as coming soon. Its product presentation combines automated battery swapping, weekly subscriptions, on-road support and service hubs. Availability is inherently local when part of the service requires a rider to reach physical equipment during a shift.

Baaz promotes a 60-second battery swap. That is a company-stated product claim, rather than an independently measured end-to-end time for every rider visit. The useful customer question extends to the journey around the exchange: where a station is, whether it has the needed battery and how the rest of the route fits the working day.

This gives network coverage a place in the purchasing decision alongside the scooter and recurring price. A buyer evaluating the service has reason to look at the routes they expect to ride and the support available along them. A city name on an expansion plan supplies less practical information than an operating network within reach of those routes.

For the company, expansion involves more connected decisions. Additional vehicles create demand for energy and service; station placement affects how riders can use those vehicles. This is an interpretation of Baaz's integrated model, rather than a disclosed expansion budget or timetable. The company has not attached a public launch date for every planned city to the financing report.

Working capital follows the rider beyond signup

Capital expenditure receives much of the attention in an electric-vehicle business because the equipment is visible. Working capital belongs in the same discussion when a company is collecting subscriptions while supporting an operating network. The reported allocation recognizes both the assets being deployed and the continuing business around them, without disclosing a detailed split.

Product development also has a direct relationship with that network. Baaz presents vehicles, energy infrastructure and software as parts of one system. Improvements can therefore concern the way those parts cooperate, as well as the scooter a rider sees. The available funding report does not specify individual engineering milestones, new certifications or a hiring target.

For delivery workers, the practical promise remains access to transport they can use to earn. For the investors, the financing extends a relationship with the provider carrying more of the surrounding operational work. The offering has to earn the next subscription through the service available on the ground, where an empty battery or a repair brings the rider back into contact with the network.

Anubhav Sharma and the founding team are taking the proposed Series B into that continuing arrangement. In Delhi NCR, the next rider signing up will need a scooter, somewhere to exchange its battery and a service team when something needs attention. As Baaz prepares other cities, those relationships have to arrive close enough together for another working week to begin.