Bike startups had boomed just before the bans rolled out in Mumbai, Delhi

Funding, number of new startups had both risen significantly since the pandemic began

About a dozen new bike taxi startups had opened in India in the past five years, before recent action cast a shadow over their operations. Eight of them were founded after 2019 (Chart 1).

 

Including ventures from previous years, India had 46 bike taxi startups over the years, or one in every four such startups globally. And though these companies have collectively raised more than $317 million since 2015 (chart 2), not all have