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Metro Bikes raises $12.2 million from Sequoia, Accel, TaxiForSure investor

The start-up offers a dockless scooter sharing service allowing users to pick up the scooter from anywhere, ride to their destination and drop it off at any location

Metro bikes
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Metro bikes

T E Narasimhan Chennai
Metro Bikes, an urban mobility solution start-up, has raised $12.2 million from investors led by Sequoia Capital India Advisors and Accel Partners. G Raghunandan, founder of TaxiForSure and a consortium of other investors have also participated in the Series A fund raising. 

The company has also changed its brand name to Bounce. The funds will be used to further scale the Bounce network across Bengaluru, invest in a delivery model through innovations in technology and develop a pan-India presence by expanding to all major cities across India by 2020. 

The start-up offers a dockless scooter sharing service allowing users to pick up