Metro Bikes Raises $12.2 Million Funding From Sequoia India and Accel Partners
Bengaluru based Scooter Sharing platform Metro Bikes, renamed now ‘Bounce’, has raised $12.2 million series A funding led by Sequoia India and Accel Partners.
Raghunandan G, Founder of TaxiForSure, and other angel investors have also participated in this round.
The funding will use to scale up its network of 2,000 scooters in Bengaluru to 30,000 in the next 10 months; make the delivery model robust through technology innovations, double its headcount and develop a pan India presence across major cities by 2020, a top executive told BusinessLine.
Earlier, the bike sharing company raises $700,000 in March 2015 from Captain Prashant Priya, a serial entrepreneur and $1.5 million in October 2017 from LG Chandrasekar, co-founder, Sutures India.
Bounce also operates a network of 500 s...