Metro Bikes raises $12.2 million from Sequoia, Accel, TaxiForSure investor

The start-up offers a dockless scooter sharing service allowing users to pick up the scooter from anywhere, ride to their destination and drop it off at any location

Metro Bikes, an urban mobility solution start-up, has raised $12.2 million from investors led by Sequoia Capital India Advisors and Accel Partners. G Raghunandan, founder of TaxiForSure and a consortium of other investors have also participated in the Series A fund raising. 

The company has also changed its brand name to Bounce. The funds will be used to further scale the Bounce network across Bengaluru, invest in a delivery model through innovations in technology and develop a pan-India presence by expanding to all major cities across India by 2020. 

The start-up offers a dockless scooter sharing service allowing users to pick up