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Ola to Invest $100 Mn in Scooter Sharing Platform Vogo

 Ola to invest $100 Mn in Vogo

Cab hailing major Ola has now invested around $100 Million in Vogo, the scooter sharing platform based out of Bangalore. Ola already provides ‘Ola Bike’ and with this strategic partnership, Bhavish Aggarwal’s company is planning to enter into the dockless scooter sharing model as well.

On the other hand, the investment will enable the Bangalore-based startup, Vogo to acquire 100,000 new scooters. This, in turn, will help the existing 150 million customers of Ola to rent Vogo’s scooters through its app.

Ola will hold around 35-40% stake in the Vogo. Founded by Anand Ayyadurai, SanchitMittal and Padmanabhan Balakrishnan in 2016, Vogo provides scooters on the rent for short one-way trips with more than 200 pickups points across Hyderabad and Bangalore.

The startup also claims that it has completed 100,000 rides and gathered more than 400000 users who commuted 20 Million km with the help of its fleet.

Ola had brought real-time information and tickets booking app Ridlr on its own platform, in order to boost its presence in the micro-mobility and end-to-end transportation segment. It has already introduced dockless bicycles in several universities and residential societies

Picture Credits: Vogo

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