Electric Mobility Startup Bounce Raise $5 million in an Internal Funding Round

This capital will accelerate the expansion of its electric scooter fleet and battery-swapping infrastructure, supporting its shift towards a full-stack B2B EV rental model focused on the last-mile delivery partners.

Founded in 2014 by Vivekananda Hallekere, Varun Agni, and Anil G, Bounce transitioned from a bike-sharing platform to a focused electric scooter producer and fleet provider. 

After the pandemic impacted its original scooter-sharing model, the company pivoted to EV manufacturing and specialised fleet rentals for the gig economy, specifically delivery partners.

With this strategic shift, Bounce has become a full-stack B2B electric mobility provider, focusing on supporting India’s gig economy and delivery sectors through specialised vehicle rentals and advanced battery infrastructure.

The gig economy in India is experiencing significant growth, with millions of workers using two-wheelers for work. 

The company now offers its scooters at a highly competitive rate of ₹1 per km, aiming to become the primary mobility partner for food delivery and quick-commerce platforms.

Bounce has a partnership with India’s leading food delivery company, Swiggy, to roll out thousands of scooters to delivery partners in Bengaluru and Delhi NCR.

The company has a major manufacturing facility in Bhiwadi, Rajasthan, capable of producing more than 200,000 units annually. 

The company’s flagship product, the Bounce Infinity E1, is designed with a unique Battery-as-a-Service model, where customers can purchase the scooter without a battery and use a subscription-based battery-swapping network.

Unveiled in early 2025, their newest battery technology allows a 60 km range in just 15 minutes of charging, compatible with public Type 6 charging infrastructure.

In 2024, it also introduced a 2.5 kWh liquid-cooled battery variant that offers extended range, rapid charging capabilities, and improved thermal management.

In 2022, electric mobility startup Bounce partnered with Bharat Petroleum (BPCL) to set up thousands of swapping points across major Indian cities.