Cab aggregator service Ola has announced that it will soon invest over $100 million in scooter sharing network Vogo. The move is being seen as a strategic partnership where Ola will boost Vogo’s scooter supply by investing in 10,000 scooters on the Vogo platform. The cab-sharing business company has also invested in Vogo as a part of the company’s Series A fundraising which saw participation from Matrix Partners India and Stellaris Venture Partners.
As per the statement released by Ola, the cash infusion will allow Vogo a strategic supply advantage without having to bear any significant capital expenditure. Alongside, Vogo’s offerings will be made available for Ola’s 150mn+ customer base directly from the Ola app.
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. Together, we are thrilled to be at the forefront of India’s rapidly growing micro-mobility market,’ Bhavish Aggarwal, Co-founder & CEO, Ola indicated in a statement.
Vogo is a point-to-point dockless scooter sharing company that deals in short range commute. The service is currently operational in Bengaluru and Hyderabad, claiming to have served over 20 million kilometres on its platform. Meanwhile, every scooter comes with an IoT device which allows the customer to access the key to the vehicle via an OTP, thus eliminating the need for human intervention and offering a hassle-free experience.
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