: City based start-up, Bounce,a smart mobility solution provider, Monday said it has raised USD 72 million as a part of its series C round.
Bounce has deployed a fleet of over 5,000 keyless scooters in city and the app allows the users to pick up a scooter and drop it at any legitimate parking spot.
B Capital Group, a global technology fund and Falcon Edge Capital, a New York based hedge fund led the investment, the company said.
This also saw participation from Accel Partners India, Accel Partners USA, Chiratae Ventures, Maverick Ventures, Omidyar Network India, Sequoia Capital India and Qualcomm Ventures, the investment arm of Qualcomm Incorporated.
The funding will go towards the company's plan toexpand its presence nationally, especially in smart cities and will also be deployed towards strengthening the tech, it saidin a release.
"This round of funding will help accelerate our expansion nationally across various cities.
We appreciate theongoing support of our investors, who have continuouslybelieved in the growth trajectory of Bounce.
Also, our journeyso far wouldn't have been possible without the support of ourloyal customer base," Bounce CEO & Co-founder Vivekananda H Rsaid.
Claiming that the company recently crossed the 2million rides mark, putting them on par with global playerslike Bird and Mobike in terms of scale, as well as mobilitymilestones, Bounce said it planned to introduce 50,000+vehicles during the current year.
The latest round takes the total capital raised by Bounce to over USD 92 MN, accelerating the company's growth inthe mobility sector.
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