Bounce, an Indian scooter rental start-up, has raised an additional $105mn from Accel Partners and B Capital Group. The latest round is part of the ongoing Series D funding round. The company was founded by Vivekananda H.R., Anil G, and Varun Agni in 2014.
Other investors who participated include Sequoia Capital India, Chiratae Ventures, Maverik Ventures, Falcon Edge, Qualcomm Ventures and Omidyar Network India among others.
Earlier, it had raised $97 Mn led by B Capital, Facebook co founder Eduardo Saverin’s venture capital firm.
The company will utilize these funds to expand its dockless bike rental service to more cities across India and march towards profitability.
In a media statement, Vivekananda HR, co founder and CEO of Bounce said “Our growth indicates the future belongs to shared mobility.”
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.
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