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HomeEconomyOla to invest $100 million in scooter startup Vogo

Ola to invest $100 million in scooter startup Vogo

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Vogo operates scooter-sharing services in Bengaluru and Hyderabad. The Ola deal will add 1 lakh more scooters to its fleet.

Bangalore: Ola, India’s dominant ride-hailing startup, is investing $100 million in scooter startup Vogo as part of a deal that will let its users access the two-wheeled devices.

The financing, which will be used by Vogo to add 100,000 scooters, is part of a fundraising round that also included Matrix Partners India and Stellaris Venture Partners. “This infusion will give Vogo a strategic supply advantage without having to incur significant capital expenditure,” Ola and Vogo said in a statement Tuesday.

Vogo operates dockless scooter sharing services in Bengaluru and Hyderabad. Ola is one of India’s biggest ride-sharing providers, with more than a million drivers. – Bloomberg

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