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Gear6.in started by BITS Pilani Alumni raises $500k
Gear6.in is a Bengaluru-based online bike service and repair platform. After three months of operations, the startup today announced that it had raised a $500k seed round from Ninestarter Services.
Gear6.in is a Bengaluru-based online bike service and repair platform. After three months of operations, the startup today announced that it had raised a $500k seed round from Ninestarter Services. The funding will be mainly utilised in marketing, onboarding more service centres, and expanding their customer base.
Gear6.in was founded in November 2015 by four BITS-Pilani alumni – Rakesh Vaddadi (CEO), Harrsha Chaittanya (CMO), Kumud Kumar (CTO), and Srikanth Nelakuditi (COO) and now consists of a 30-member team. The startup officially began operations in January 2016 and claims to be averaging about 500 transactions a month at this stage.
Gear6.in aims to simplify end-to-end bike maintenance and bring the entire sector online and help consumers save effort and make bike maintenance more economical and viable. It also wants to help customers make more informed decisions and have more control over the whole cycle. Covering a range of services, from regular servicing to more complex bike breakdowns, gear6.in claims to be well-equipped to handle a plethora of problems.
The startup provides services in almost all localities in Bengaluru, and currently has tie-ups with more than 100 authorised and multi-branded service centres. Talking about the pain points customers face, Rakesh said,
Speaking to YourStory, Rakesh added that they are not charging any of the authorised centres that have partnered with them, at this stage. He said, “Our current focus is not on generating a lot of revenue from all channels. There is a lot of inefficiency in the system and mindsets need to change.”
Gear6.in currently only charges end customers for transport and towing fees to sustain operations. In the future, they aim to monetise through multiple channels once the market is more mature on both the supply and demand side. In the long term, Gear6.in aims to expand to more cities and enter other verticals too like the four-wheeler servicing sector and also provide services for cycle owners.
