About the Company
Bounce was founded with the vision of redefining urban mobility through smart and sustainable transportation solutions. Headquartered in Bangalore, India, Bounce has introduced a fleet of dockless scooters and electric vehicles (EVs) to facilitate affordable and convenient commuting. The company operates across multiple cities, catering to daily commuters and businesses seeking last-mile connectivity.
Business Model
Bounce operates through the following key business segments:
a) Ride-Sharing Services
Description: Offers self-drive scooter rentals, allowing users to pick up and drop off vehicles at their convenience.
Key Clients and Markets: Targets urban commuters, students, and professionals seeking cost-effective last-mile transportation.
b) Fleet Management & Subscription Model
Description: Provides fleet leasing and subscription-based rental options for businesses and individuals.
Competitive Advantage: Ensures affordability, accessibility, and reduced dependency on conventional fuel-based vehicles.
c) Revenue Streams
Bounce generates revenue through:
- Pay-Per-Ride Model: Users pay for scooter rentals based on duration and distance traveled.
- Subscription Services: Monthly and weekly rental plans for frequent users.
- B2B Fleet Solutions: Leasing electric scooters to delivery services and corporate clients.
What Problem is the Startup Addressing?
Bounce aims to solve urban transportation challenges by providing an economical and sustainable alternative to private vehicles and ride-hailing services. The key issues addressed include:
- Traffic Congestion: Encourages shared mobility, reducing the number of personal vehicles on the road.
- High Commuting Costs: Offers an affordable mode of transport compared to taxis and fuel-based scooters.
- Environmental Concerns: Promotes electric and sustainable mobility solutions to lower carbon emissions.
By tackling these issues, Bounce is reshaping the urban mobility landscape with smart, efficient, and eco-friendly commuting options.
Key Financial Numbers
- Revenue (Latest): ₹75 crore ($9M) as of March 31, 2024.
- Profitability: – ₹20 crore ($2.4M) as of March 31, 2024.
- Growth Rate: 30% YoY increase in user base.
- Funding: Raised $150 million from Accel, Sequoia, and B Capital.
- Market Valuation: $520M as of September 2024.
About the Founders
- Vivekananda Hallekere – Co-Founder & CEO
- Education: Chartered Accountant (CA)Professional Background: Experienced in finance, startups, and mobility solutions.Role in Company: Leads strategic growth, investor relations, and company expansion.
- Varun Agni – Co-Founder & CTO
- Education & Background: Tech entrepreneur with a focus on AI-driven mobility.
- Contributions: Manages technology infrastructure, app development, and IoT-enabled vehicle tracking.
- Vivekananda Hallekere – Co-Founder & CEO
