SUMMARY
- Bounce is striving towards achieving a revenue of Rs 150 crore in FY25, growing over 4X from FY23.
- Bounce Electric achieved a positive EBITDA in September 2024 while its average revenue run-rate in October stood at Rs 200 crore.
- The company ended the last fiscal year with a revenue of Rs 35.88 crore and a loss of Rs 44 crore.
Electric scooter maker Bounce is striving towards achieving a revenue of Rs 150 crore in FY25, growing over 4X from FY23.
The company has a number of long-term deals across various industries, and is on course to meet this revenue target for FY25, according to insiders familiar with the situation.
“Bounce Electric achieved a positive EBITDA in September 2024, its average revenue run-rate in October stood at Rs 200 crore,” shared a source.
Sources indicate that the company ended the last fiscal year with a revenue of Rs 35.88 crore and a loss of Rs 44 crore. This indicates a 60.6% decrease in revenue from Rs 91 crore revenue in FY23.
The decline in scale was attributed to the phase 2 battery compliance regulations. Bounce lost six months of production and did not introduce any scooters in the first half of FY24, negatively impacting its revenue collection.
Bounce reported a revenue of Rs 91 crore in FY23 with losses of Rs 197 crore. While Rs 35.88 crore came from scooter sales, the remaining Rs 51 crore came from custom manufacturing for Belrise, a component manufacturing company for the automotive and white goods industries. Its audited financial statements for FY24 have not yet been made public.
The Bengaluru-based company shifted its emphasis to electric scooter production by acquiring 22Motors at the beginning of FY22. As a result, the firm has significantly expanded its scale compared to its previous model.
Sources suggest that Bounce’s growth is driven by its focus on providing a robust electric solution for B2B companies in logistics, ecommerce, and quick commerce. Its “plug-and-play” EV model enabled the shift to electric vehicles by covering all operational costs and maintenance.
Bounce claims itself as the sole OEM in the electric vehicle industry to offer an uptime guarantee, along with the ability to choose battery sizes and types, and access to battery-swapping services from various providers.
Before this strategic shift, Bounce secured approximately $200 million in funding across many rounds. Notably, Accel holds the largest stake with a 26.62% share, followed by Peak XV and B Capital.
