Shared mobility start-up Bounce on Thursday mentioned it has raised $105 million (round ₹748 crore) in contemporary spherical of funding led by Accel, a number one enterprise capital agency, and B Capital Group which is a world expertise fund.
The contemporary funding will gas a deeper electrical automobile (EV) integration, platform play and assist drive profitability, the corporate mentioned in a press release.
The collection D funding additionally noticed participation of current traders, Accel Companions India, Chiratae Ventures, Falcon Edge, Maverick Ventures, Omidyar Community India, Qualcomm Ventures and Sequoia Capital India, it added.
“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,” Bounce CEO and co-founder Vivekananda HR mentioned.
He additional mentioned, “It will also enable us to build a mobility platform that will help bringing in different forms of mobility solutions, that are hyper-suited to the needs of cities and towns we plan to expand into, over the next few months.”
Commenting on its funding in Bounce, Associate at Accel Anand Daniel mentioned the model identifies one of many key gaps within the mobility sector and has managed to supply a handy and cost-efficient resolution with their tech capabilities.
“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,” Daniel added.
Bounce presently operates its dockless scooters in Bengaluru and Hyderabad with a fleet of 13,000 and a pair of,000 autos respectively. It’s docked scooter rental service is on the market to commuters in over 35 cities.
The corporate claims over than 1,20,000 rides per day and has clocked over 16 million rides until date.