India-based scooter rental service Bounce has received $97m in a series D round featuring Qualcomm Ventures, the corporate venturing arm of mobile semiconductor producer Qualcomm, LiveMint reported on Wednesday, citing a regulatory filing.
Venture capital firm B Capital led the round, which included trustee services provider Vistra ITCL, Sequoia Capital, Accel India, Chiratae Partners, Omidyar Network and SCI Investments. The transaction valued Bounce at $450m, a person familiar with the matter told LiveMint.
Sources told TechCrunch in November 2019 that Bounce had secured $150m in a series D round co-led by B Capital and Accel India at a valuation of more than $500m, but that report appears now to have been premature.
Founded in 2014 and originally known as Metro Bikes, Bounce operates scooters across 35 cities in India. They are primarily aimed at daily commuters and can be booked either by the hour and dropped off at dedicated spaces, or used through a dockless network as needed.
Qualcomm Ventures previously participated in a $72.3m series C round for the company in June 2019 at a $250m valuation. Accel and Sequoia co-led the series C round, which was also backed by B Capital, Chiratae Ventures, Falcon Edge India, Maverick Ventures and Omidyar Network.
Bounce collected $8m in a January 2019 series B round led by Chiratae Ventures that also featured Qualcomm Ventures, Accel India, Omidyar and Sequoia Capital. The latter three had already invested in its $12.2m series A round the previous year.
Photo courtesy of Bounce.
