Motorcycle touring startup Motoziel to raise $3 million next fiscal

NEW DELHI: Motorcycle touring startup Motoziel plans to raise up to $3 million in the next fiscal to expand its vehicle fleet.

"We are looking at raising about $2-3 million next year to expand our fleet size. We plan to raise funds from new investors," Motoziel Managing Director Kalyan Mazumder told PTI.

The Gurgaon-based startup, which rents luxury adventure motorcycles such as Harley Davidson, Ducati and Triumph, started operations in January 2015 and has a fleet of 20 motorcycles.

This year, the company will increase the fleet size by adding 10 more motorcycles.

Elaborating on its business, he said :"Our theme is 'Incredible India'. We want to engage our riders with people and culture of place they are visiting. Our target customers are foreigners who want to explore the country."

Motoziel was started by two professionals - Biswaroop Banerjee and Kalyan Mazumder - working in the auto industry.

It has already raised over $2 million (Rs 17 crore) from helmet manufacturer Steelbird.