Dockless bike rental startup Bounce raises

$105M in fresh funding 

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. 

The series D funding also has seen the participation of existing investors, Accel Partners India, Chiratae Ventures, Falcon Edge, Maverick Ventures, Omidyar Network India, Qualcomm Ventures and Sequoia Capital India.

Dockless bike rental startup Bounce

It established in 2014 as Wicked Rides by the founders Vivekananda HR, Varun Agni and Anil G. The company offers premium motorcycles for rent under the Wicked Rides banner and commuter bikes under the Bounce brand.

Bounce provides last-mile commuting and aims to solve the last mile connectivity problems. It offers the users to pick up the scooters from nearby locations to them and drop them at end-trip spots. It puts the price on the hour and distance basis.

The new funding round, a Series D, was co-led by existing two investors, Capital and Accel Partners.

Formerly Bounce use to known as Metro Bikes and allows the customers to rent a scooter and pay as low as 1 Rs for the first kilometre of a ride. It receives 120,000 rides each day and allows users to leave the vehicle in any nearby docking station or partnered mom-and-pop store after the rides.

“Our growth indicates the future belongs to shared mobility,” said Vivekananda HR, co-founder and CEO of Bounce.

These funding will be used to focus on deeper electric vehicles integration and a platform play and help to drive profitability. With its 20K existing bike fleet, Bounce is planning to shift to electric vehicles by the funds raised by the company. In coming days the startup is looking forward to strengthening its brand in Bengaluru.

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