India, March 2 -- EV startup Bounce has raised Rs.36 Cr ($3.9 Mn) in a funding round led by existing investors Accel and B Capital.

The startup allotted 37.6 Lakh Series F CCPS to Accel India and B Capital each for a cumulative Rs.36 Cr, according to its regulatory filings with the MCA.

Cofounder and CEO Vivekananda Hallekere told Inc42 that this is an ongoing strategic fundraise from existing backers. The startup is looking to raise an additional Rs.10 Cr from another existing investor in the round, which will take its total size to Rs.46 Cr (about $5 Mn).

Hallekere said the capital will be used to support the startup in its next growth phase, as it shifts focus from bike-sharing and EV manufacturing to scaling infrastructure for Indi...