What is Bounce? Bounce Review

Company Introduction

Bounce, headquartered in Bangalore, was founded in 2014 and was previously known as MetroBikes. Its main business is to provide dockless scooter, moped and motorcycle sharing services in India, relying on time-sharing rentals to charge fees.

Bounce provides electric scooter, moped and motorcycle sharing services in many cities in India, including Bangalore, Mysore, Jaipur, Manipal, Ahmedabad, Gokarna, etc. In addition, its overseas business has expanded to the New Zealand market.

Service Introduction

Bounce provides scooter rental services to customers, aiming to solve the "last mile" connection problem, with a price of 1 rupee (about 0.1 cents) per kilometer and a charge of 1.5 rupees per hour. At the end of the trip, customers can park the scooter at any nearby parking spot.

Development History

Bounce was founded in Bengaluru in 2014 by Vivekananda HR, Anil G and Varun Agni with the aim of alleviating traffic congestion by encouraging passengers to choose public transportation and providing smooth first and last mile connections.

In August 2018, Bounce announced that it had completed a Series A financing of 836 million rupees (approximately US$12.2 million), with Sequoia Capital and Accel Partners as co-lead investors.

In November 2018, Bounce acquired ofo's assets in India.

In April 2019, bike rental startup Bounce raised $3 million from InnoVen Capital.

In June 2019, India’s Bounce raised $72 million to grow its electric scooter business, with the Series C round led by B Capital (the venture capital firm founded by Facebook co-founder Eduardo Saverin) and Falcon Edge Capital.

In November 2019, Indian scooter rental startup Bounce raised $150 million in its Series D round, led by existing investors B Capital (a venture capital firm founded by Facebook co-founder Eduardo Saverin) and Accel India.

References

• 1. The rise of shared bikes in India: If the East is not bright, the West will be bright? : Sina Column [cited on 2018-12-05T16:00:00.000Z]
• 2. Finally someone is willing to take over, Indian motorcycle rental company acquires ofo's Indian assets: Sohu [cited date 2018-11-29T16:00:00.000Z]