Electric Mobility Firm Bounce Bags USD 5 Mn in Funding The fresh capital will be used to expand its fleet, enter new cities, and strengthen infrastructure support for delivery workers across India.
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Electric mobility startup Bounce has raised USD 5 million in an internal funding round from existing investors, including Accel, B Capital and Qualcomm Ventures.
The fresh capital will be used to expand its fleet, enter new cities, and strengthen infrastructure support for delivery workers across India.
Founded in 2014 by Vivekananda Hallekere, Anil G, and Varun Agni, the Bengaluru-based company began operations as Wicked Ride, a premium motorcycle rental platform. The business was severely affected during the Covid-19 pandemic, leading to a scale-down of operations, liquidation of most of its fleet, and employee layoffs.
The company later pivoted to dockless scooter sharing and rebranded itself as Bounce. It has since evolved into a full-stack electric mobility firm. Bounce now manufactures electric scooters and rents them to gig workers serving food delivery and quick commerce platforms. Its offerings include Infinity electric scooter rentals, battery-swapping services, and "Bounce Daily" rental plans tailored for delivery personnel. At its peak, the company operated more than 30,000 scooters nationwide.
In 2021, Bounce acquired a 100% stake in Gurugram-based EV startup 22Motors in a deal valued at about USD 5 million, marking its deeper push into electric vehicle manufacturing.
Before this round, Bounce had raised around USD 227 million from investors such as Accel, Peak XV Partners, B Capital, Chiratae Ventures, Falcon Edge, Qualcomm Ventures, Omidyar Network, and Maverick Capital, according to Tracxn.
For the fiscal year ended March 2025, the company reported revenue of INR 64.2 crore, down from INR 88.7 crore in FY24. Its net loss narrowed to INR 28.6 crore from INR 79.4 crore.
