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Bicycle startup AlphaVector records 2.5x rise in monthly revenue rate

13 October 2020, 7:54 pm

AlphaVector, a manufacturer and designer of bicycles, has recorded a 2.5x growth in Monthly Revenue Rate (MRR) for the between March and September, 2020 due to the increased demand for this mode of transport owing to COVID-19 pandemic.

According to a statement from AlphaVector, it believes that the pandemic has further encouraged people to find alternate ways of commuting, exercising and entertainment, adding to the rising demand of bicycles in India.

This startup, founded in 2015 by Sachin Chopra and Vishal Chopra with its Frog brand of bicycles, is aiming to achieve an annual revenue run rate of Rs 300 crore next year.

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