Cycle seller Ninety One raises close to $30 million

According to a press release from the company, Ninty One secured roughly $30 million (Rs 225 crore) in a Series A financing from A91 Partners. The company is valued at around Rs 1,000 crore at this round.

Ninety One is a cycle company founded in 2015 by Sachin Chopra, a former managing director of Everstone Capital, and his brother Vishal Chopra under the AlphaVector (India) Pvt. Ltd. banner. The company claims to create bikes that are both affordable and unique to the market.

The company claims to sell over 20,000 bicycles per month and has a presence in over 1,000 retail locations. Ninety One is also available in over 500 cities, and its website has over a million monthly unique visitors from India and other countries.

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