Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

Ola invests $100 M in bike-sharing platform Vogo; to supply 100K scooters

Stuti Nandan
Stuti Nandan
Feminist by mind, socialist by heart. Passionate about everything she does, always learn new things with an open mind. A tech savvy and keeps an update about everything happening around, loves reading that is what gives her the best of both world some reality some fantasy.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Vogo the dockless scooter sharing platform which is Bengaluru based has raised funding of $100 million from Ola.

This huge investment by the mega riding Ola will surely boost up and help Vogo to increase the supply by investing in 100,000 numbers of scooters, so now the Vogo will also be available of the application of Ola. This fundraising will also reduce the capital expenditure of Vogo.

The company also raised an undisclosed amount funding which was done by Ola, The chairman of Hero MotiCorp Pawan Munjal, Stellaris Venture and Matrix Partners in the month of August this year.

Vogo is operating in Hyderabad and Bengaluru currently and is planning to add approx 1,000 pickup points for customers across the operating cities in the approaching year.

The Vogo app enables all the users to unlock, locate and pick up bikes or scooters at one point and drop location will be at a different point, the scooters of Vogo comes with an IoT device which only allows the users to access it with an OTP.

The company claims that it has served 20 million kilometres, Vogo gives access to the customers to rent scooters for a short trip across the city Hyderabad and Bengaluru. The platform was founded by Padmanabhan Balakrishnan, Sanchit Mittal and Anand.

The platform has seen rapid growth in the past five months and has grown over 10x in scale. He added that Ola’s understanding of mobility and their investment to the power supply are helpful to Vogo, As we enter into our next phase of growth, we look forward to executing our synergistic vision of the future: smart and sustainable mobility for all. – Anand Ayyadurai, CEO, Vogo

“With the backing of right partners, innovative solutions and nuanced market understanding, we are well-positioned to capitalise on this opportunity and create value for all”, he added. 

“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.” Co-founder and CEO of Ola Bhavish Aggarwal said.

As of now there this great increase in the scooter sharing platform, there is also Rapido which claims to have approx  1,000 in Gurgaon, 4000 bikes in Bengaluru. Bounce which was rebranded raised $12.2 million funding by Sequoia Capital.

In Hyderabad and Chandigarh Uber launched uberMOTO two years back, as per the AlphaBeta Analytics users save 38 per cent time by using uberMOTO.

By this huge investment in the Vogo and access of it on the Ola app, it is quite visible that Ola has entered this fast-growing platform.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic