EV startup Bounce has successfully raised ₹36 Cr ($3.9 Mn) in a recent funding round led by existing investors Accel and B Capital. The startup, founded in 2014 and initially focused on bike rentals, has now shifted its focus to the electric scooter market. With a total funding of over $200 Mn, Bounce plans to utilize the latest investment to strengthen its infrastructure for India’s gig economy, particularly in the realm of last-mile delivery.
Bounce’s CEO, Vivekananda Hallekere, shared that the funding will fuel the growth of the company’s B2B EV rental ecosystem, emphasizing its Battery-as-a-Service (BaaS) platform and affordable scooter offerings for gig workers at ₹1 per km. Noteworthy partnerships with Sun Mobility and Swiggy demonstrate Bounce’s commitment to expanding its presence across key Indian cities and catering to the rising demand for electric mobility solutions.
This strategic fundraise signifies a pivotal moment for Bounce as it embarks on a trajectory of rapid scale-up and diversification within the EV sector. The infusion of ₹36 Cr is set to pave the way for further innovation and expansion, solidifying Bounce’s position as a significant player in India’s evolving electric vehicle landscape.
Source: Inc42 Media