Private Equity VC Fund Investments
E-mobility startup Bounce raises $20-M from Sequoia, other existing investors
Bengaluru-headquartered electric scooter and swappable-battery company Bounce Infinity has raised USD 20 million (INR 163 crore) from its existing investors including Sequoia Capital India. The deal is expected to provide a cash runway for the startup while it continues talks for a potentially larger round with external investors or even a strategic sale.
Earlier this month, the company let go of over 100 employees and a similarly large number of contractual workers to cut costs.
Company website ↗ (opens in a new tab)
From the Venture Intelligence PE-VC Deal Database: Between Jun-2018 and Mar-2020, Bounce had raised over USD 190 M from Sequoia, Innoven Capital, Accel India, Accel USA, B Capital, Alpha Wave Global, Qualcomm Ventures, Chirate Ventures, Omidyar Network, Sachin Bansal and Maverick Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)