Bounce Raises $105 Million In Series D Funding
- The company said that the funding will help to provide a deeper electric vehicle (EV) integration
- Bounce currently operates its dockless scooters in Bengaluru and Hyderabad
Shared mobility start-up Bounce has raised $105 million ( around Rs 748 crores) in funding. The funding was led by Accel, a venture capital firm, and B Capital Group, a global technology fund.
Partner at Accel Anand Daniel said, “The innovations around the keyless mechanism of using a scooter coupled with other Internet of Things (IoT) modifications, make Bounce very unique. We are excited to continue partnering with the Bounce team.”The company said that the funding will help to provide a deeper electric vehicle (EV) integration.
Omidyar Network India, Qualcomm Ventures and Sequoia Capital India
The series D funding also saw participation of existing investors, Accel Partners India, Chiratae Ventures, Falcon Edge, Maverick Ventures, Omidyar Network India, Qualcomm Ventures and Sequoia Capital India.
Expansion to other cities and towns soon
Bounce CEO and co-founder Vivekananda HR said, “The main vision of Bounce is to democratise mobility and thus make a significant socio-economic impact. This fresh funding will help us towards this vision.” He added that the funding will enable the company to build a mobility platform that will bring different forms of mobility solutions. This will suit the needs of cities and towns the company plans to expand into, over the next few months.
Bounce currently operates its dockless scooters in Bengaluru and Hyderabad. It has a fleet of 13,000 and 2,000 vehicles respectively. The company claimed that it books over 1,20,000 rides per day and has done over 16 million rides till date.
source : http://electronicsofthings.com