Bounce, a smart mobility solution provider has raised USD 72 million as a part of its series C round of funding led by B capital Group and New York-based hedge fund Falcon Edge Capital.
The funding round also saw participation from Accel Partners India, Accel Partners USA, Chiratae Ventures, Maverick Ventures, Omidyar Network India, Sequoia Capital India, and Qualcomm Ventures.
The funding will help accelerate Bounce expansion across various Indian cities.
Bounce has deployed a fleet of over 5,000 keyless scooters in the city and the app allows the users to pick up a scooter and drop it at any legitimate parking spot.
We appreciate the ongoing support of our investors, who have continuously believed in the growth trajectory of Bounce. Also, our journey so far wouldn’t have been possible without the support of our loyal customer base,” Bounce CEO & Co-founder Vivekananda H R said.
Claiming that the company recently crossed the 2 million rides mark, putting them on par with global players like Bird and Mobike in terms of scale, as well as mobility milestones, Bounce said it planned to introduce 50,000+vehicles during the current year.
The latest round takes the total capital raised by Bounce to over $92 million, accelerating the company’s growth in the mobility sector.