 "Oye! Rickshaw")
The electric three-wheeler, also known as e-rickshaw, was never a start-up category. But that changed when Matrix Partners, a marquee venture capital firm, invested in a small proof-of-concept stage firm, back in 2017.
Oye! Rickshaw, at the time, only had a mechanical engineer and his friend trying to bring the convenience of app-based booking to this new mobility category. Matrix, through Ola and later Ola Electric, was supporting the development of a similar service on the Ola platform. There were synergies and Matrix came on-board as the first investor in the Delhi-based start-up.
If bagging Matrix as the first investor
