Bounce raises $72M in series C funding round led by B Capital Group

Date: 2019-06-19   Author: Pankaj Singh  Category: #news

Bounce raises $72M in series C funding round led by B Capital Group

The Bengaluru-based bike rental startup Bounce has reportedly raised $72 million in series C round of funding led by B Capital Group, a global technology fund, and Falcon Edge Capital, a New York based hedge funding company.

As per trusted sources, Chiratae Ventures, Omidyar Networks India, Maverick Ventures, Sequoia Capital, Accel Partners USA and Qualcomm Ventures also participated in the funding round.

Vivekananda HR, co-founder and CEO, Bounce, was reportedly quoted stating that the company is currently working with the local and national government to facilitate innovative solutions for first and last mile connectivity. The funds will help Bounce to expand across various cities in the country, he further added.

For the record, Bounce was founded in 2014 by Vivekananda HR, Anil G and Varun Agni. Their service offers over 5,000 keyless scooters on rent in Bengaluru. One can book a scooter, bicycles and electric scooters using the app and park it at any legitimate parking spot. It further plans to introduce 50,000+ vehicles during the current year. Bounce has reportedly crossed the two million rides mark this year.

As per reliable sources, Bounce recently raised $8 million in series B type funding led by Chiratae Ventures and with the latest round of funding the total capital of the firm currently stands at $92 million.

Reportedly, Anand Daniel, Partner at Accel Partners, stated that the frequent utilization of scooters and high repeat behavior pattern from the consumers prove that Bounce’s concept model is well suited for market adoption. The innovations with respect to the hardware aspect of the product coupled with IoT provide a strong defensibility to the company, he further added.

As per reliable sources, the terms of deal have not been disclosed so far.

 

Sources: https://www.financialexpress.com/industry/bike-renting-start-up-bounce-raises-72-million-in-series-c-funding/1610604/

https://www.thehindubusinessline.com/info-tech/bounce-raises-72-million-in-series-c-funding-round/article28020912.ece



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

Intelligent Process Automation(IPA) Market Covid-19 Impact In-Depth Industry Analysis 2026

Author: Ashwin Naphade

The research report on Intelligent Process Automation(IPA) market offers critical information such as the development trends, restraints, CAGR, revenue prospects, product type, application scope, competitive scenario, and COVID-19 impact.

<...


Passive Optical LAN (POL) market players to make profitable investments during 2021-2026

Author: Ashwin Naphade

Global Passive Optical LAN (POL) Market Report provides complete industry analysis, market outlook, size, growth, opportunities and forecast 2026. This report will assist in analyzing the current and future business trends, sales and revenue forec...


Research on Intelligent Machine Control System Market 2021: By Growing Rate, Type, Applications, Geographical Regions, and Forecast to 2026

Author: Ashwin Naphade

Intelligent Machine Control System market report is a comprehensive analysis of the growth dynamics and revenue inflows in this industry sphere over 2021-2026, inclusive of Covid-19 impact.

The latest research report on Intelligent Machi...