Once a front runner in India’s shared mobility space and a contender in the EV race, the firm is in the throes of disintegration. How did it get here?
During a recent all-hands call, Vivekananda Hallekere, co-founder and CEO of Bengaluru-based mobility firm Bounce, told employees that there was no cash in the company, according to an industry expert.
Bad as it might seem, the news doesn’t come as a surprise. At least six people, including the firm’s former employees and independent industry experts, said the company is cash-strapped. They all requested anonymity. According to data from Venture Intelligence, Bounce last raised $99 million in a Series D funding round led by Accel India and B Capital Group in January 2020, a couple of months before India went into …
Samiksha covered all things startups at The Morning Context. She joined us from The New Indian Express, where she wrote stories on the retail and food sectors. Prior to that, she had covered startups and written various business features in the Deccan Herald.
Writer
samiksha@mailtmc.com
Bengaluru