B Capital, Falcon Edge lead $72m round for India's Bounce

Existing investors Sequoia Capital, Accel Partners, Chiratae Ventures, Qualcomm Ventures, and Omidyar Network also participated in the funding round, which brings Bounce’s total capital raised to more than $92 million. Previous investments in the company include a $12.2 million Series A last year led by Sequoia and Accel and a $7 million Series B round led by Chiratae in January.

Bounce provides dockless scooter sharing and reservation services in 17 cities across India, positioning itself as India’s first smart urban mobility solution. The company launched in 2016 as a subsidiary of premium motorcycle rental service Wicked Ride, targeting commuters who need first and last-mile connectivity from public transportation hubs.

In late 2018 Bounce acquired the Indian assets of beleaguered Chinese bike-sharing giant Ofo. The company said adding bicycles to the platform would help fill a gap for very short distance rides of less than two kilometers.

Bounce’s competitors in India’s scooter sharing space include Vogo, which raised a Series A round last year featuring Matrix Partners India and Stellaris Venture Partners. Domestic ride-hailing platform Ola also participated in the round by committing $100 million worth of inventory.

B Capital, a VC firm with a strong Asia focus established by Facebook co-founder Eduardo Saverin, is currently raising its second fund, which reached a first close of $406 million earlier this year. The firm’s investments in India’s transportation space include long-distance trucking marketplace BlackBuck.

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• Topics
• South Asia
• Technology
• Expansion
• India
• TMT
• Transportation
• B Capital
• Sequoia Capital
• Accel Partners
• Qualcomm Ventures
• Chiratae Ventures