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Startup Metro Bikes Raised Investments Amounting to $12.2 Million

Bike rental startup Bounce, former Metro Bikes, has successfully raised a total of $12.2 million investment.

Together with its announcement of changing its name from Metro Bikes to Bounce, the company has successfully raised investments with the help of Sequoia India and Accel Partners along with other corporations. Investors have also participated in the fundraising, one of which is the founder of TaxiForSure, Raghunandan G.

Such services offered by the startup are as follows; the company provides scooters, that can be rented through their dockless scooter sharing service and made available for pickup throughout the city. As of the moment, there are about 200,000 downloads both on Android and iOS, which is a good sign for the company.

The service aims to allow commuters to have a better way of transporting. Their services are tagged as an easier and more convenient way in terms of mobility, not only that, but it is much affordable with a price ranging from Rs 6 per km.

By 2020, the startup is planning to enter different cities in India to be able to expand their business. The investment is just the beginning of their long journey. Having successfully fulfilled their goal, they will be able to boost their company and in hopes of building an empire in the future.

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