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Ola to Invest $100 Million in Indian Scooter Sharing Startup Vogo

As part of this partnership, Ola will boost Vogo’s supply by investing in 100,000 scooters on the Vogo platform, worth $100 million.

News18.com

Updated:December 19, 2018, 12:21 PM IST
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Ola to Invest $100 Million in Indian Scooter Sharing Startup Vogo
Ola to Invest $100 Million in Indian Scooter Sharing Startup Vogo
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Vogo, India’s scooter sharing network, for short haul commute, announced its strategic partnership with Ola. As part of this partnership, Ola will boost Vogo’s supply by investing in 100,000 scooters on the Vogo platform, worth $100 million. Additionally, Vogo’s offerings will also be available for Ola’s 150mn+ customer base, directly from the Ola app soon. Ola has also invested in Vogo as part of the company’s Series A fundraising which saw participation from Matrix Partners India and Stellaris Venture Partners.

Vogo is a point-to-point dockless scooter sharing company, currently present in Bengaluru and Hyderabad, having served over 20 million kilometers on its platform. Every Vogo scooter comes with an IOT device that allows the customer to access the key via OTP; this eliminates the need for human intervention and offers consumers a seamless experience, the company said in a statement.

Bhavish Aggarwal, Co-founder & CEO, Ola said “Ola is committed to building a robust mobility ecosystem in India, creating a deep impact on livelihoods and how citizens get around. Our investment in Vogo will help build a smart multi-modal network for first-last mile connectivity in the country. Vogo’s automated scooter-sharing platform, backed by Ola’s expertise in this space can help transform our cities. Together, we are thrilled to be at the forefront of India’s rapidly growing micro-mobility market.”
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