Shared mobility start-up Bounce raises USD 105 mn in fresh funding

Shared mobility start-up Bounce on Thursday said it has raised USD 105 million (around Rs 748 crore) in fresh round of funding led by Accel, a leading venture capital firm, and B Capital Group which is a global technology fund.

The fresh funding will fuel a deeper electric vehicle (EV) integration, platform play and help drive profitability, the company said in a statement.

The series D funding also saw participation of existing investors, Accel Partners India, Chiratae Ventures, Falcon Edge, Maverick Ventures, Omidyar Network 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 said.

He further said, "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."