After Amazon-backed Shuttl, Chalo acquires another competitor Vogo
Chaloon Monday announced the acquisition of tech-enabled shared mobility startup Vogo.
- Vogo has raised nearly $180 million to date and counts Matrix Partners India, Kalaari Capital and Lightrock as investors.
- Vogo will now switch to low-powered electric vehicles post this acquisition as they are more safer, suitable for short distances and cost effective.
AdvertisementNearly five months after acquiring Amazon-backed app-based office shuttle service
The bus tracking app on Monday announced the acquisition of tech-enabled shared mobility startup Vogo for an undisclosed amount. Chalo believes that Vogo will augment the company’s bus technology services by powering first and last mile rides at major bus stops and other public places, which will allow users to travel to and fro from bus stops.
Founded in 2016 by Anand Ayyadurai, Padmanabhan Balakrishnan, and Sanchit Mittal, the startup offers commuters round-the-clock petrol-powered scooter rental services. The company has raised nearly $180 million to date and counts Matrix Partners India, Kalaari Capital and Lightrock as investors.
The founders and the team of Vogo would continue to be associated with the company, with Ayyadurai taking a leadership role at Chalo. Balakrishnan will be the new chief executive officer (CEO) of Vogo.
“This acquisition offers Chalo key strategic gains. Now we will be able to offer a convenient and cost-effective option for bus passengers to travel to and from bus stops, solving the door-to-door daily commute. This will increase bus ridership and serve our core purpose of making travel more convenient and reliable for all,” Vinayak Bhavani, cofounder and chief technology officer (CTO) of Chalo, said.
Pre-COVID, the company was fulfilling 50,000 rides in Hyderabad and Bengaluru on a daily basis, it claimed.
However, Vogo will now switch to low-powered electric vehicles post this acquisition as they are more safer, suitable for short distances and cost effective. The company will also move beyond two-wheelers to offer other types of electric vehicles to suit market needs. “We have already begun our transition to a 100% electric fleet and will also expand into new vehicle categories to serve people better,” Vogo’s cofounder and latest CEO Balakrishnan, said.
The development comes only a few months after Chalo raised $40 million in a round led by Lightrock India and Filter Capital. Notably, Lightrock is also an investor in Vogo.
Chalo currently claims to have presence in 37 cities across 13 Indian states, including Delhi NCR, Maharashtra, Karnataka, Kerala and others.
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