Indian bike sharing platform Mobycy is nearing to bag $10 million in Series A funding round to finance its growth plans.
The round will have participation from startup incubation platform Venture Catalysts and a bunch of angels as well as a mix of local and global investors from the U.S. and Southeast Asia.
German investment banking firm IEG has been signed up to advise Mobycy on the round.
Moreso, Mobycy, which will put 100,000 scooters on the road the next year, is seeking to raise $60 to $70 million in Series B over the next couple of years.