The company manufactures electric scooters and rents them out to gig workers. It operates across vehicle production and fleet management.
While Hallekere did not reveal the identities of the investors, the existing backers of Bounce include Accel, Peak XV Partners, B Capital, Chiratae Ventures, Falcon Edge, Qualcomm Ventures, Omidyar Network and Maverick Capital.
An internal round typically involves existing investors infusing fresh capital without bringing in new investors.
Bounce started as Wicked Ride, a rental service for high-end performance motorcycles, before pivoting to app-based scooter rentals and rebranding as Bounce.
The Covid-19 pandemic severely impacted the rental business, prompting the company to scale down operations, liquidate most of its fleet and lay off employees.
It later shifted focus to manufacturing electric vehicles. In 2021, Bounce acquired a 100% stake in Gurugram-based electric vehicle startup 22Motors in a deal valued at about $5 million.
For the fiscal year ended March 2025, the company reported revenue of Rs 64.2 crore, down from Rs 88.7 crore in FY24, according to Tracxn. Its net loss narrowed to Rs 28.6 crore from Rs 79.4 crore.
