Bike Rental Startup Bounce Raises $105 Million Funding
Bangalore-based bike rental startup Bounce has raised $105 million in Series D funding round led by Accel Partners and Facebook Co-founder Eduardo Saverin's B Capital Group.
Existing investors Accel Partners India, Falcon Edge, Chiratae Ventures, Omidyar Network India, Maverick Ventures, Sequoia Capital India, and Qualcomm Ventures also participated in this round of funding.
The new funding round will soar Bounce valuation upto $520 million and takes the total capital raised to $194 million.
The current funding will to focus on deeper Electric Vehicle (EV) integration and a platform play, and will push towards profitability.
Vivekananda H.R, CEO and Co-founder of Bounce, said, "Our growth to 1,20,000 rides a day, in a little over a year and largely in one city, underlines th...