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Bounce’s shared mobility business fell 83% during the pandemic

Bounce's revenue fell 83% to ₹14 crore for the fiscal year ended March 2021, as the pandemic dedicated shared mobility services. The data came from the company's filings with the Ministry of Corporate Affairs (MCA).

Like Vogo, Bounce was known for its shared two-wheeler service. Yulu also competes with the company, but all of these companies have taken different paths. While Bounce has moved on to EVs, Mumbai-based Chalo has acquired Vogo. Bounce's total revenue fell only 52% to Rs 53 crore, as the company earned income from fixed deposit interest and other investments. Before the pandemic, the company was able to raise $105 million from Accel Partners and B Capital at a valuation of $520 million in January 2020. This fundraiser assisted Bounce in increasing its interest income.

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