Bike rental start-up Metro Bikes today said it has raised Series A investment of USD 12.2 million led by Sequoia India and Accel Partners. The company has also announced the change in its brandname to "Bounce". The funds would be used to further scale the Bounce network across Bengaluru, invest in a robust delivery model through innovations in technology and develop a pan-India presence by expanding to all major cities by2020, the company said in a release.