Investors Defer Bykea’s $13 Million Funding Due to Ban on Pillion Riding - Android

Investors have decided to put the $13 million funding of Bykea on hold after the Sindh government extended the ban… Read More

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Investors have decided to put the $13 million funding of Bykea on hold after the Sindh government extended the ban on pillion riding till 15 July amid the Coronavirus outbreak.

In a press release, Bykea’s founder and CEO, Muneeb Maayr, expressed disappointment and said that pillion riding during the Coronavirus pandemic is much safer than traveling on cars, buses, and rickshaws.

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The statement added that Bykea riders not only wear helmets but they also wear face masks and gloves that protect both the riders and the customers against the disease.

Bykea Vice-President, Usman Chaudhary, has argued that ban on pillion riding has adversely affected the lives of thousands of people associated with the bike ride-hailing sector that would have contributed to the Pakistani economy.

Bike ride-hailing services were suspended in Sindh after the provincial government enforced a lockdown as part of the measures taken to ensure compliance with the social distancing SOPs.

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Earlier this month, Bykea representatives called on the Federal Minister for IT and Telecom, Syed Amin Ul Haque, and apprised the minister with the investors’ reluctance to invest in a sector that has seen lengthy bans imposed by the government over the years.

Bykea officials added that 90% of the business depends on pillion riding and more than 2/3 of the business comes from Karachi as they urged the Minister to voice support against the ban on pillion riding by the provincial government.

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