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Bike Rental Startup Bounce Goes For A Second Round Of Layoffs Amidst Operations Scale Down

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Bike Rental Startup Bounce Goes For A Second Round Of Layoffs Amidst Operations Scale Down,Bounce Lays Off 200 More Employees As Demand Stays Low,Startup Stories,Bounce,Bike Rental Startup,Bike Rental Startup Bounce,layoffs in indian startups,Scooter Rental Startup Bounce Lays Off 120 Employees Amid Coronavirus Scare,Exclusive: Bounce lays off 120 employees to conserve capital

Bounce is a bike rental startup which was quite the rage amongst the IT industry crowd as their bike rentals made daily office commute quite easy.  Owning a four wheeler in a metropolitan city is quite a bread ache owning to endless traffic snarls.  This was where Bounce fit in perfectly as it offered a faster and hassle free commute.  All a person had to do was open the Bounce app, book the nearest available bike and drop it off at their desired location.  The app was easy to use, bikes were in great condition and the prices were extremely affordable and attractive.

However, Bounce was affected due to the COVID-19 pandemic both directly and indirectly.  When the COVID-19 pandemic arrived on the Indian shores, the Central Government announced a strict nationwide lockdown which was extended till almost 6 months.  The lockdown meant the public were working from home as offices were closed.  This meant there were no commuters and meant there were no takers for Bounce.  As demand continued to plummet, Bounce laid off 130 workers from its 600 strong workforce in June 2020.  The total number of daily rides after the lifting of the lockwon is around 20,000, compared to around 130,000-140,000 a day prior to the lockdown in March 2020.

ALSO READ: Bounce – How The Bike Rental Startup Is Changing The Way We Commute

As the lockdown was lifted, Bounce hoped to see its demand increase but with multiple companies realising the higher productivity levels of remote work are not in a hurry to recall their employees to offices anytime soon.  Therefore demand levels continued to be low and this meant a second round of layoffs at Bounce.  In the most recent layoffs, around 200 employees have been laid off along with receiving a severance package of three months salary and medical insurance for one year.

According to a popular news daily, Bounce is working with the employees who were laid off to forward their resumes and get them placed in other organisations.   Moreover, with the failing demand Bounce had sold off all their petrol bikes and shuttered their operations in all major cities except Bengaluru.  Bounce is now planning to launch a fleet of electric vehicles  as the operating costs are cheaper compared to fuel based vehicles.  This includes an electric scooter developed in house which will become available on their platform.  A top executive at Bounce said the company still has around $ 70 million in cash from its previous fundraise and would utilise that capital to grow the EV business.

 

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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