Bounce Infinity, an EV Startup to Raise $40 Million Funding Round 

Bounce Infinity, an EV Startup to Raise $40 Million Funding Round

Bounce Infinity, headquartered in Bengaluru and specialising in electric vehicles (EVs), is discussing with new and existing investors to secure a funding round between $20 million and $40 million.

This funding endeavour is expected to witness the continued support of existing investors such as Peak XV Partners, Accel Partners, and Falcon Edge.

According to insider sources, the startup actively engages with external investors to spearhead this funding round. Market dynamics will determine the valuation.

Anticipating a closure within the next three months, Bounce Infinity aims to utilise the fresh influx of capital to bolster its manufacturing capabilities.

While the company currently derives most of its revenue from business-to-consumer (B2C) sales, it is now gearing up to bolster its business-to-business (B2B) segment. Additionally, the company is exploring new product lines and eyeing international expansion opportunities.

Recently, Bounce Infinity sealed a deal valued at $45 million with Sun Mobility to deploy 30,000 electric scooters in key markets, including Bengaluru, Hyderabad, Mumbai, Pune, and Delhi NCR. According to a report by Inc42, the full amount of the deal is slated to be disbursed to Bounce Infinity over the next 18 months.

It’s noteworthy that Sun Mobility powers the EV startup’s swappable battery technology.

In a recent development, Bounce Infinity also unveiled its portable liquid-cooled battery technology in partnership with Clean Electric.

Established in 2014 by Anil G, Varun Agni, and Vivekananda Hallekere, Bounce initially operated as a bike rental platform before transitioning into an EV manufacturer in 2022.

In the fiscal year 2023-24 (FY24), the startup sold 3,429 electric scooters. Meanwhile, its net loss decreased by 19% to INR 197 crore in FY23 from INR 243.3 crore in the preceding fiscal year. Sales soared by 510% to INR 90.9 crore during the review period from INR 14.9 crore in FY22.