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BAC Acquisitions Invests $1.45 Million in Rental Startup, Bounce

The two-wheeler rental company, Bounce has issued a total of 1 Lakh non-convertible debentures to BAC Acquisitions, according to company filings.  
BY BEx Bureau
BusinessEx
Jul 04, 2019

Sachin Bansal-owned, BAC Acquisitions has put money $1.45 million in a rental startup company, Bounce, according to a media report.

The two-wheeler rental company has issued a total of 1 Lakh non-convertible debentures to BAC Acquisitions, as reported by the daily news, Inc42.

According to above-cited media reports, it is the second investment of Flipkart owner, Sachin Bansal in the startup, Bounce in the present year. Earlier in March, Bansal had invested $3 million in the rental startup. Now, Bengaluru-based startup has garnered debt and equity funding amounting to $94 million.

The startup has obtained investments from various other investors namely, Falcon Edge Capital, Maverick Ventures, Qualcomm Ventures, Chiratae Ventures, Accel Partners USA, B Capital Group, Sequoia Capital India, Omidyar Network India and Accel Partners India.

Bounce, which was initially named as Wicked Rides, was founded by Varun Agni, Vivekananda HR and Anil G in 2014. The startup provides premium motorbikes for rent and further, commuter bikes under two different banners.

The startup targets to resolve last-mile connectivity issues. It permits users to take scooters from their nearest locations and then drop them at their destinations, charging users on per hour basis and distance travelled. The company asserts to have employed a troop of more than 5000 scooters, which dont require a key, in Bengaluru.




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