Homegrown cab aggregator Ola has partnered with Bengaluru-based Vogo, which claims to be India’s fastest growing scooter sharing network, to invest $100 million into the company. The move is part of Ola’s strategy to expand its bike-taxi operations in the country. According to reports, the investment will help fund the purchase of 100K scooters to beef up Vogo’s current fleet.
“This infusion will give Vogo a strategic supply advantage without having to incur significant capital expenditure. Additionally, Vogo’s offerings will also be available for Ola’s more than 150 million customer base, directly from the Ola app soon,” Vogo said in a press release.
Vogo was founded in 2016 by Anand Ayyadurai, Padmanabhan Balakrishnan and Sanchit Mittal. Today the company has presence in more than 200 designated points across Bengaluru and Hyderabad. The company claims that over 100,000 users have commuted for over 20 Mn kilometres on its scooters.
“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,” said Ola CEO and co-founder Bhavish Aggarwal.