Bgauss intends to double its total investment over the next 12 to 24 months.
BGauss is strategically positioning itself within the rapidly growing gig economy by focusing on scooters equipped with both fixed and swappable batteries. Hemant Kabra, the founder and managing director, announced during the unveiling of the RUV 350 that BGauss is committed to delivering a comprehensive electric vehicle (EV) solutions package that will soon include these versatile battery options.
The company’s latest innovation, the RUV350, which is expected to hit dealerships by the end of the month, boasts a removable battery and large 16-inch wheels, enhancing both ride quality and manoeuvrability.
To further cater to consumer convenience and ensure continuous operation, BGauss plans to integrate swappable batteries across its existing product line. This feature will alleviate the need for users to wait for a recharge every time the scooter depletes its battery range.
Additionally, BGauss is set to significantly increase its investment in the near term, with plans to double it over the next 12 to 24 months. This expansion is supported by a nearly completed fundraising effort aiming to secure $20 million.
A 2022 report by Niti Aayog highlighted the substantial growth of India’s gig economy, which now boasts approximately 15 million workers engaged in diverse roles such as delivery, cleaning, consulting, and blogging. The report noted that digital platforms are facilitating these opportunities, offering flexibility and the ability for gig workers to juggle multiple jobs. Companies like Uber are exemplars of this versatility, providing varied services under one umbrella. The gig economy not only simplifies job searches by reducing information asymmetry but also operates on a performance-based model that minimizes risks like moral hazard. For employers, this model is advantageous as it grants access to a broad talent pool and ensures standardized work outcomes, with the low entry barriers further fueling the sector’s growth.
