Ride hailing-platform Ola invested $100 million in Vogo, India’s fastest growing scooter sharing network, for short haul commute, the company said on Tuesday. As part of this partnership, Ola will invest in 100,000 scooters on the Vogo platform.
“We’re excited to leverage Ola’s deep experience in mobility space & partner with a visionary entrepreneur @bhash on our growth journey. Soon, users can book a Vogo scooter on the Ola app,” Vogo tweeted.
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Vogo has seen rapid growth in the last 5 months, growing over 10x in scale. “We are thrilled to have Ola join us on this journey and help turbocharge our growth by providing us access to strategic and capital efficient supply as well as access to millions of customers on its platform in the time to come. Ola’s deep understanding of mobility and their investment to power additional supply are extremely valuable to Vogo,” Anand Ayyadurai, Founder and CEO, Vogo said in a statement.
Scooter sharing addresses the twin challenges of pollution and congestion, while also providing a credible alternative to bridge India’s micro mobility needs.
“We are very excited to back Anand and the @Vogo_Rentals team as they build for India’s growing micro-mobility needs. First and last mile connectivity is key to @Olacabs’ core mission of building mobility for a billion people,” said Bhavish Aggarwal, co-founder and CEO of Ola in a tweet.
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“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,” Aggarwal said in a statement.
Ola also invested in Vogo as part of the company’s Series A fundraising which saw participation from Matrix Partners India and Stellaris Venture Partners.
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Vogo is a point-to-point dockless scooter sharing company, currently present in Bengaluru and Hyderabad.
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.
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