Bike rental company Royal Brothers raises $1 million to expand business

Bike rental company Royal Brothers, owned by Royalbison Autorentals India Pvt Ltd, has raised $1 million in a pre-Series A round. The round includes primary and secondary share purchase.

This investment comes from Pradeep Deviah, Chairman and Chief Executive of PDA Trade Fairs; angel investor Amrith Prasad; and others. 

The fresh capital will be used by the company to strengthen its inventory across all the cities, besides expanding the business to other states. In addition, Royal Brothers will also introduce riding gear rentals across the cities they currently operate in, and start long-term leasing.

Abhishek Chandrasekhar, CEO and Director of Royal Brothers said, "This round of investment will allow us to expand our footprint with an increased presence across India. In addition, it will facilitate in growing our inventory and teams across new and existing markets."

Pradeep Deviah, Chairman and CEO, PDA Trade Fairs & Associates, added, "The teams at Royal Brothers have done a tremendous job of growing the company while being bootstrapped. Their dedication to developing the bike rental space in India gave me the confidence to make the investment in the company."