PE-VC Fund Investments
E-scooter maker Bounce raises Rs.36-Cr from existing investors Accel, B Capital
Bengaluru-based electric bike rental company Bounce has raised INR 36 crore (USD 3.9 million) in Series F funding from existing investors Accel and B Capital. Bounce is seeking to raise an additional INR 10 crore from another existing investor, which would bring the total to INR 46 crore (about USD 5 million).Founded in 2014 by Vivekananda Hallekere, Anil G., and Varun Agni, Bounce began as a bike rental platform and later shifted to e-scooter manufacturing following the acquisition of 22Motors in 2021. The company also operates a Battery-as-a-Service (BaaS) platform.The new funds will be used to support its growth phase, focusing on scaling its full-stack B2B electric vehicle rental ecosystem for India’s gig economy, primarily for last-mile delivery.
Between Jun 2018 and Mar 2023, Bounce had attracted about USD 226 M from Accel India, Peak XV Partners, InnoVen Capital, Omidyar Network, Chiratae Ventures, Sachin Bansal, Qualcomm Ventures, Accel USA, Alpha Wave Global, B Capital Group, Maverick Capital and others.In Nov 2021, Bounce acquired a 100% stake in Twenty Two Motors for USD 7 M.For FY25, Bounce had reported about INR 1 Cr in Operating Income and about INR 8 Cr in Net Loss.
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