New Delhi: Bounce, an e-mobility startup, is nearing the completion of its Series E funding round, raising a total of $20 million. Existing investor Sequoia Capital India, along with other participants, has contributed to this funding. In addition to this, Bounce has expressed its intention to pursue an Initial Public Offering (IPO) within the next few years, according to a source familiar with the matter reported.
According to documents filed with the Ministry of Corporate Affairs, Bounce had already secured $5.3 million of the $20 million in funding back in March of this year. The company, originally established in 2014 as a platform for two-wheeler bookings, has successfully raised nearly $200 million in funding thus far. Its previous funding round, Series D, was finalized just before the onset of the pandemic and amounted to $105 million.
In the financial year ending on March 31, 2022, Bounce reported a consolidated loss of Rs 243.3 crore, which is lower compared to Rs 305.6 crore in the previous year. Despite these losses, the company remains optimistic about its future prospects and is forging ahead with its plans for growth and expansion.
Bounce has gained prominence in the e-mobility sector, offering a range of innovative solutions and services. The startup’s focus on providing convenient and sustainable transportation options has resonated with consumers, leading to its substantial funding success. With the forthcoming Series E funding and the potential IPO, Bounce aims to further strengthen its position in the market and propel its growth trajectory.
The funds raised in the current funding round will be crucial for Bounce’s future initiatives. The company is likely to utilize the capital to enhance its technology infrastructure, expand its fleet of vehicles, and explore new markets. Bounce’s vision extends beyond just two-wheeler bookings as it continues to explore and innovate in the electric mobility space.
The decision to pursue an IPO indicates Bounce’s confidence in its business model and its ability to attract public investors. Going public will provide the startup with additional resources to fuel its expansion plans and accelerate its market presence. It will also offer investors an opportunity to participate in the growth story of a promising e-mobility company.
As the e-mobility sector gains traction globally, Bounce is well-positioned to capitalize on the increasing demand for sustainable transportation solutions. Its focus on electric vehicles aligns with the growing environmental consciousness and the need for eco-friendly alternatives. By providing users with accessible and affordable electric mobility options, Bounce aims to contribute to a greener and more efficient transportation ecosystem.
In conclusion, Bounce’s ongoing funding round and its future plans for an IPO highlight the company’s ambition and potential in the e-mobility market. With its innovative approach and commitment to sustainability, Bounce is poised to make a significant impact on the transportation landscape while attracting further investments and expanding its operations.
