Indian bike rental startup Bounce raises $105M

TechCrunch | 1/22/2020 | Staff
monnamonna (Posted by) Level 3
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Bounce, a Bangalore-based startup that operates over 15,000 electric and gasoline docked bikes in nearly three dozen cities in India, said today it has raised $105 million in a new funding round as it explores sustainable ways to expand within the nation and build its own electric vehicles.

The new financing round, Series D, was co-led by existing investors Eduardo Saverin’s B Capital and Accel Partners India, said the startup. The new round valued Bounce at a little over $500 million, up from about $200 million in June last year, a person familiar with the matter told TechCrunch.

TechCrunch - November - Bounce - Stages - Talks

TechCrunch reported in late November that Bounce was in advanced stages of talks to raise $150 million at over $500 million valuation. The startup has raised $194 million to date.

Bounce, formerly known as Metro Bikes, allows customers to rent a scooter and pay 10.5 Indian rupees (15 cents) for each kilometer of the ride. The platform clocks 1.2 million rides each day.

Bounce - Operations - Team - City - Market

Bounce earlier deployed its own operations team in each city and flooded the market with its scooters, but...
(Excerpt) Read more at: TechCrunch
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