Bounce Raised $6.5 Million Funding

Si Team InnoVen Capital the existing investor has funded Bengaluru based-Company with $6.5 Million. Bounce is an Indian dockless scooter providing network company. It offers the scooters for rent to the customers. Users can rent premium motorcycles under the brand name Wicked Rides and commuter bikes under Bounce brand.

InnoVen Capital is one of the finest and largest investor of India and have backed several leading high growth companies. They have backed Bounce from their early days.
Bounce aims to use the funding to fuel its electric vehicle integration. The fund will also be used to expand its network geographically and escalate profitably. The current round of funding has raised the company's capital to almost over $200 million.

According to reports Bounce is planning to establish the funding and expand its services across 10 more Indian Cities. The startup is also looking forward to join hands with the State and Central government for providing first and last-mile connectivity.

In January, in its Series D funding round, Bounce raised $97 million led by Facebook Co-Founder Eduardo Saverin’s venture capital fund B Capital at a valuation of $450 million. Other investors including Omidyar Network, Vistra ITCL, SCI Investments, Qualcomm Ventures and existing investors including Sequoia Capital, Accel Partners India and Chiratae Partners had also participated in the round.

The startup utilizes a low cost, dockless scooter rental model in Bengaluru and Hyderabad with a fleet of over 23,000 vehicles(20,000 in Bangalore and 3,000 in Hyderabad).