Bangalore-based EV and bicycle-sharing platform for campuses, Tilt has raised $125,000 from Y Combinator in an undisclosed round from a clutch of angel investors. Tilt was a part of Y Combinator’s Winter 2021 cohort, incubated at Digital Impact Square, an incubator being run by TCS Foundation.
Tilt was founded in 2018 by Deepak V.S., Sudhir Metaliya, Daksh Shah and Rachit Parikh to provide bikes, e-bikes, and shuttles to corporates, colleges, townships, and cities across India. The startup has designed an application through which users can book vehicles based on their requirements. A fee is then charged based on the duration of the usage.
According to the founders most bike rental companies have solved the problem of mobility within the cities whereas Tilt is concentrating on mobility within campuses. Tilt currently provides its mobility services to companies such as Tata Motors, ONGC Petro additions Limited, Tata Consultancy Services, Palava City, Mahindra Group, and Tata Steel.
“We even raised a small amount from the university and reached out to a cycle manufacturing company in Chennai. They gave us our first fleet of bikes, and we ran the initial pilot for nine months,” Deepak said while talking about the fundraising. We raised a small amount and moved to Nashik to work closely with the Tata Group and they had the idea of green & sustainable mobility business, he further added.
To Hire a bike through tilt, people need to create an account to find the station within their campuses and book a ride on finger touch. Its docking hardware is patent-pending and developed by an in-house team. The idea of the business was first incubated at Digital Impact Square, a TCS foundation-run Startup incubator. Through DISQ, the idea was introduced to TATA motors and realized this could solve the problem of mobility within facilities. This will also save travelling time that employees used to take earlier to reach one unit to another. However, this would increase operating cost but the profit could be increased by making employees devote saved time to their assigned work to complete before the given time.
Tilt bikes are manufactured in Nashik and Ludhiana. There is a huge demand in tier 2 and 3 cities where transportation is poor. According to the Tilt, their vehicles have been built ground up to specifically address these challenges and hoping to have a great future with a healthy market share and revenue in coming years.