SoftBank eyes on mobility sector in India, may invest in two-wheeler startups

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SoftBank, based out of Japan, is reportedly, said to be eyeing the mobility sector in India, including the two-wheeler mobility space, reported ET, citing multiple sources.

After investing heavy amount on market leaders such as Oyo, Uber, Ola, Paytm,  the SoftBank has plans for the next phase of innovation beyond ride hailing.

A spokesperson of the SoftBank said that the company was focused on ride-hailing as a sector and was interested in future technologies in the area. 

Japan-based Soft Bank Group, is known for its leadership by founder Masayoshi Son. It, now, owns operations in broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, semiconductor design, and other businesses.

While, according to the sources, the Japanese firm has had engagements with companies such as Bounce, Vogo and Drivezy, though no investment plans are in the pipeline yet.

“While the model works in Bengaluru, there are questions around how conducive the climate will be in other top cities in India to scale up,” said an investor in one of these scooter-rental companies.

“Also, unit economics is yet to be proven. Even at the density these businesses have in Bengaluru, the losses are unsustainable,” he added.

“Considering the average cheque size of SoftBank’s investments, there’s no room for them yet in this space,” said an entrepreneur building a scooter-sharing firm.

SoftBank has invested in number of Indian startups which includes Oyo, Paytm, Ola, Flipkart and many more.

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