Business brief

Bike rental company Royal Brothers Monday said it has raised USD 1 million investment from Pradeep Devaiah (Chairman and CEO, PDA trade fairs) and his associates, as well as angel investor Amrith Prasad.

The pre-series A investment will be used to strengthen the company's inventory across all the existing cities to increase its market share, it said.

The investment will also enable the company to create more awareness, build the market for bike rentals, and even expand to five more states, including 10 new cities over the next six months.