Mobycy, a bicycle sharing service provider, has announced the launch of its new mobile app which enables dockless bicycle sharing. With this, it is now competing against Ola which recently introduced its own dockless bike-sharing service.
The announcement of the new service comes just days after the company raised around ₹3.2 crore in seed funding round from angel investors. Along with that, the company also announced the commencement of its operations in Delhi-NCR.
Commenting about this new development, Mobycy co-founder Akash Gupta said in a statement:
We are excited to announce that Mobycy is now live on Google Play Store. It presents users with a greener, healthier means of commute with complete last-mile connectivity, in the form of smart, dockless bikes.
The mobile app from the company is now available on Google Play Store and will be available on Apple App Store in next few days. It is starting operations with around 5,000 Smart Bikes and plans to increase the number of bikes to around 50,000 in the next six months.
Using the mobile application, users can discover a smart bike in their vicinity, unlock it via QR Code and commute shorter distances. The user can pay ₹10 for a single ride or buy the monthly subscription to avail two rides daily for an hour each.
The bikes from the company can be found in public places like metro stations, markets and popular places like North Campus and Cyber City among others. It will also be available near colleges/universities for students.
Mobycy will be competing against Ola’s Peddle as well as Zoomcar’s PEDL. Recently, Amit Gupta, co-foudner of InMobi, also launched a bike-sharing service named Yulu. According to Amit Gupta, the bicycle-sharing market in India could be worth over $1 billion by 2020.