Bounce, the bike rental startup founded in 2014 is on way to raise its next round of funding which is expected to be in the range of $ 125 – $ 150 Mn. The company was founded in 2014 by Vivekananda HR, Varun Agni, and Anil G, and has been a key player in the bike rental space. The company was earlier called Metro Bikes.
Bounce calls itself – “India’s first smart urban mobility solution, with a mission of making daily commute stress-free, time-saving, reliable and convenient.” The company offers hourly rentals, as well as one-way rental services where in users can pick up and drop bikes anywhere they need to – including airport drop in select cities. While the company has a stronger presence in Hyderabad and Bangalore, the company has been expanding to new cities. It’s website shows the service availability in cities – Jaipur, Udaipur, Jaisalmer and more.
In June 2019, the company had raised $72 Mn in a Series C round of funding and had also received debt funding of Rs 10 Cr. Sachin Bansal-led investment firm BACQ Acquisitions Pvt Ltd.
It seems that the company is looking forward to aggressive expansion. The funding is expected to help the company expand to other cities in India as well as to strengthen its technology backend.