Venture debt firm Alteria Capital has invested ₹25 crore into Vogo, according to a company statement on Friday.
Vogo will use the new funding to increase the fleet of two-wheelers. The company currently has over 12,000 vehicles across 5 cities including Bangalore, Hyderabad, Chennai, and others up from around 5,000 vehicles as of April.
Alteria has funded Vogo for the second time with investing ₹8 crore in October last year. Vogo offers on-demand scooter rentals on its platform for daily riders.
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It currently operates around 500 scooter stations across five cities and claims to have completed over 3 million trips on its platform till date.
“We are thrilled to double down on our partnership with Alteria. Since they first came on board, we have grown over 70X and will leverage this investment to keep growing rapidly and bring Vogo scooters to millions of customers across India. We look forward to continuing to leverage the Alteria team’s wealth of experience and strong network on our growth journey.” said Anand Ayyadurai, Founder & CEO of Vogo in a statement.
Alteria’s current portfolio includes brands like Faasos, Portea, Fingerlix, Toppr Technologies and several other companies in the consumer Internet space.