Bike sharing startup Mobycy raising $10 mn for e-scooters

Gurugram-based dockless bicycle sharing startup Mobycy, which recently pivoted to electric scooters, is raising $10-million Series A round to fund its new business. The startup expects to dilute 30-40% of its equity in the round, which will see participation from India, US, Southeast Asia-based investors, Co-founder Akash Gupta said. Gupta had founded the startup in 2017 along with Rashi Agarwal.