In FY25, electric scooter manufacturer Bounce is on track to reach a yearly turnover of Rs150 crore. Compared to FY23 estimates, this will represent a more than four-fold rise. According to those familiar with the situation, the company is on course to reach the aforementioned revenue in FY25 after securing a number of long-term contracts across multiple industries.
"Bounce Electric achieved positive EBITDA in September 2024, and its average revenue run-rate in October stood at Rs 200 crore," according to a source with knowledge of the company's financial figures.
For the Bengaluru-based business, which reported operating revenue of Rs 36 crore in FY24, this would be a major reversal. Sources claim that it ended the previous fiscal year with a deficit of Rs 44 crore and revenue of Rs 35.88 crore. This indicates that the company's sales of Rs 91 crore in FY23 decreased by 60.6% in FY24.
The phase 2 battery compliance requirement served as a guidance for the scale decline. In the first half of the previous fiscal year (FY24), Bounce did not introduce any scooters and lost six months of production. The company's revenue in the most recent fiscal year suffered as a result.
For context, Bounce reported losses of Rs 197 crore in FY23 along with Rs 91 crore. The business made Rs 51 crore from bespoke manufacturing for Belrise, which specializes in producing parts for the automotive and white goods industries, while earning Rs 35.88 crore from the sale of scooters. It has not yet submitted its FY24 audited financial reports.
By purchasing 22Motors at the beginning of FY22, Bounce changed its emphasis to the production of electric scooters. It was covered solely by Entrackr. Compared to its prior model, the company was able to increase its scale by a factor of ten, suggesting that this change in strategy paid off.
Bounce's focus on offering a robust electric solution for B2B businesses in logistics, e-commerce, and fast commerce is reportedly driving the company's growth. Its "plug-and-play" EV model makes the switch to electric vehicles easier by taking care of all maintenance and operating expenses.
Bounce asserts that it is the only OEM in the EV sector to provide an uptime guarantee, as well as the ability to choose from a variety of battery types and sizes and to access battery-swapping services from other suppliers.
Prior to this change, Bounce raised about $200 million in a number of funding rounds. Accel holds the highest ownership (26.62%), followed by Peak XV and B Capital, according to the credible startup data intelligence portal.
