Exclusive: EV startup Bounce Raises ₹36 From Existing Investors

EV startup Bounce has raised ₹36 Cr ($3.9 Mn) in a funding round led by existing investors Accel and B Capital

The startup allotted 37.6 Lakh Series F CCPS to Accel India and B Capital each for a cumulative ₹36 Cr

CEO Vivekananda Hallekere told Inc42 that the startup is looking to raise an additional ₹10 Cr from another existing investor in the round, which will take its total size to ₹46 Cr (about $5 Mn)

EV startup Bounce has raised ₹36 Cr ($3.9 Mn) in a funding round led by existing investors Accel and B Capital. 

The startup allotted 37.6 Lakh Series F CCPS to Accel India and B Capital each for a cumulative ₹36 Cr, according to its regulatory filings with the MCA.

Cofounder and CEO Vivekananda Hallekere told Inc42 that this is an ongoing strategic fundraise from existing backers. The startup is looking to raise an additional ₹10 Cr from another existing investor in the round, which will take its total size to ₹46 Cr (about $5 Mn).

Hallekere said the capital will be used to support the startup in its next growth phase, as it shifts focus from bike-sharing and EV manufacturing to scaling infrastructure for India’s gig economy. The startup is looking to scale its full-stack B2B EV rental ecosystem offering, which is primarily focused on last-mile delivery. 

It also has a Battery-as-a-Service (BaaS) platform and offers its scooters at ₹1 per km to gig workers. The CEO claimed Bounce has grown 25 times in scale in under 12 months.

Notably, Bounce, in 2024, signed a $45 Mn deal with Sun Mobility to deploy 30,000 escooters across cities such as Bengaluru, Hyderabad, Mumbai, Pune and Delhi NCR. The escooters use Sun Mobility’s battery-swapping technology. Bounce also entered into a partnership with Swiggy in 2025 to roll out escooters to delivery partners, starting with NCR and Bengaluru. 

Founded in 2014 by Hallekere, Anil G., and Varun Agni, Bounce began as a bike rental platform and shifted to escooter manufacturing after acquiring 22Motors in 2021. 

Including the latest fundraise, Bounce has raised a total funding of over $200 Mn to date from investors like Chiratae Ventures, Maverick Ventures, Omidyar Network India, among others. 

On the financial front, the startup was targeting a revenue of ₹150 Cr in FY25. However, it is yet to file its financial statements for the year. 

Meanwhile, sources told Inc42 that Bounce is also piloting an AI product and offering incentives to gig workers to train AI models on local languages. Last year, ride-hailing giant Uber also introduced a similar programme for its drivers in the India and the US market.