Bounce raised fresh funding of $6.5 million
for fueling EVs
Bounce a motorcycle and scooter-sharing start-up has raised a fresh funding of $6.5 million from existing investor InnoVen Capital, an Asia’s leading venture debt provider.
The marks InnoVen Capital’s third investment in Bounce in a duration of 18 months which is total debt investment to $12 million, exclusively from the firm.
The Bounce said that this new funding would fuel a deeper electric vehicle integration, multi-city expansion, platform play and help accelerate profitability.
The new funding round comes after the company recently raised $105 million (Rs 750 crore) and the company recently raised $105 million (Rs 750 crore) and the company said that it will expand in India and will also enter into the aborad markets.
Vivekananda H.R, CEO and co-founder said “InnoVen has backed our vision from very early days and been an incredible partner to work with,” As we expand to more cities and towns, we will transition to a diverse shared mobility platform to enable various mobility options as per the specific needs of each customer. The fund raised will help in realising these goals while we march towards profitability.”
“For India to unlock the next wave of growth, it is essential to solving the long-standing problem of urban transportation by scaling shared-mobility solutions,” said Ankit Agarwal, Director, InnoVen Capital India. “Bounce holds massive potential in playing a crucial role in this growth story.”
Bounce is a Bengaluru based dockless bike rental last-mile mobility startup. This startup operates more than 20,000 dockless bikes and scooters in India. It has raised an additional $105 Mn (Rs.746.33 Cr) from Accel Partners and B Capital Group in fresh funding and is a part of the ongoing Series D funding round.
Bounce
Bounce was founded in 2014 by Vivekananda H.R., Anil G and Varun Agni, with a mission to provide consumers with a cost-efficient micro-mobility solution for the first and last-mile connectivity.
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