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
Why news media is in crisis & How you can fix it
India needs free, fair, non-hyphenated and questioning journalism even more as it faces multiple crises.
But the news media is in a crisis of its own. There have been brutal layoffs and pay-cuts. The best of journalism is shrinking, yielding to crude prime-time spectacle.
ThePrint has the finest young reporters, columnists and editors working for it. Sustaining journalism of this quality needs smart and thinking people like you to pay for it. Whether you live in India or overseas, you can do it here.