EV Startup Bounce Raises ₹36 Cr in Series F to Scale B2B EV Rentals for India’s Gig Economy

Bengaluru-based electric mobility startup Bounce has raised ₹36 crore ($3.9 million) in a fresh funding round led by its existing investors Accel and B Capital, as the company sharpens its focus on building EV infrastructure for India’s fast-growing gig economy.

According to regulatory filings with the Ministry of Corporate Affairs (MCA), Bounce allotted 37.6 lakh Series F Compulsorily Convertible Preference Shares (CCPS) to Accel India and B Capital for a cumulative ₹36 crore. The round is part of an ongoing strategic fundraise from existing backers, signalling continued confidence in Bounce’s evolving business model.

Cofounder and CEO Vivekananda Hallekere confirmed that the startup is in advanced discussions to raise an additional ₹10 crore from another existing investor, which would take the total round size to ₹46 crore (approximately $5 million). The incremental capital is expected to further strengthen Bounce’s balance sheet as it enters its next phase of growth.

Founded in 2014, Bounce initially gained prominence as a dockless bike-sharing platform and later expanded into EV manufacturing. Over the past two years, however, the company has undertaken a strategic pivot, moving away from consumer-facing mobility models toward a full-stack B2B EV rental ecosystem tailored for last-mile delivery and gig workers.

The freshly raised capital will be deployed to scale infrastructure, fleet operations, and technology supporting Bounce’s EV-as-a-Service offering. This includes vehicle leasing, battery management, maintenance, and charging solutions designed specifically for delivery partners working with e-commerce, food delivery, and logistics platforms.

India’s gig economy is expected to employ tens of millions of workers over the next decade, with last-mile delivery emerging as one of its largest segments. As sustainability mandates tighten and operating costs rise, demand for affordable, reliable EV solutions among delivery partners has accelerated, creating a strong tailwind for Bounce’s B2B-focused strategy.

By positioning itself as an enabler rather than a direct consumer brand, Bounce aims to become a critical infrastructure for the electrification of last-mile logistics. Its integrated approach lowers upfront costs for gig workers while offering enterprises a scalable pathway to decarbonise delivery operations.

With continued backing from top-tier investors and a clearer strategic focus, Bounce’s latest fundraise marks an important milestone in its transition from a shared mobility pioneer to a key player in India’s EV-powered gig economy ecosystem.