Bangalore-based dockless scooter sharing startup Bounce raises $105M  Series D; now valued at over $0.5 billion

Bengaluru-based Bounce (formerly known as Metro Bikes), a dockless bike rental startup, has closed $105 million late stage funding to focus on deeper EV integration and a platform play, and to make a push towards profitability.  The round was led by Accel Partners and Facebook Co-founder Eduardo Saverin’s B Capital Group, with participation from existing investors Accel Partners India, Falcon Edge, Chiratae Ventures, Omidyar Network India, Maverick Ventures, Sequoia Capital India, and Qualcomm Ventures. The series D round now values the bike rental startup at $520 million. To date, Bounce has raised over $200.2M in funding over 9 rounds.

Founded in 2014 by Anil G, Varun Agni, and Vivekananda Hallekere, Bounce develops and provides a smart mobility solution making daily commute time-saving and stress-free. The startup aims at decongesting the roads by encouraging commuters to choose public transport by delivering convenient options to rent bikes and reach their destinations from metro stations.

Bounce (formerly known as Metro Bikes) is a smart mobility solution, with a mission of making daily commute stress-free, time-saving, reliable, and convenient. With a breakthrough technology that lets users access the bike with just an OTP, the Keyless bikes, have not only done away with keys, but the whole process of renting a bike has just become devoid of any physical or human intervention. With Bounce’s new One Way Rental service, users can now pick up and drop the bike anywhere they need to, and be done with the ride. This is aimed at providing a seamless first mile and last mile connectivity to metro users.