Bounce Infinity has laid off close to 40 people from its shared mobility vertical. The step was taken as the business was not doing 'particularly' well for the electric two-wheeler OEM. Notably, the start-up had laid off about 20% of its workforce during the COVID-19 lockdowns.
However, the OEM has not removed anyone from its battery-swap or electric vehicle manufacturing wings. “We have not laid off a single person from the OEM business,” a spokesperson from the company told Mobility Outlook.
The individual also mentioned that the start-up is in the process of closing a round of $20 million to $30 million from an external investor.
“The focus would be more on the electric two-wheelers business with the funding,” he said. Bounce currently operates over 55 electric scooter dealerships in India.
So far, the company has raised $214 million in funding in nine rounds from Accel Partners India, B Capital, Chiratae Ventures, Omidyar Network, Qualcomm Ventures, and Sequoia Capital.
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