India’s homegrown cab service company Ola is infusing $100 million into scooter-sharing startup Vogo to boost ‘last-mile connectivity’
- Ola is investing $100 million in scooter-sharing platform
- The investment will go into helping the company buy a fleet of 100,000 scooters.
- Ola is looking to expand its services beyond cabs in India and banking on ‘last-mile connectivity.’
After expanding vigorously in the cab-sharing services in India, Ola is reportedly investing $100 million in Vogo, a platform for renting scooters. The investment will be made in tranches, according to media reports.
Ola had earlier participated in a Series A funding round by Vogo that was aimed at raising $7 million. While Vogo has been able to fetch a considerable investment from Ola, it will reportedly continue to function as an independent start-up, reported LiveMint.
The company is planning to build a ‘multi-modal network for first-last mile connectivity’ in the country, Bhavish Bhavish Aggarwal, CEO and co-founder of Ola told TOI.
Ola has been working aggressively to expand its reach in urban transportation. It earlier acquired a transportation information provider, Ridlr.
Both Ola and Uber have been in stiff competition in the cab-rental services for a while now. While Uber also offers a similar service under the name ‘
The problem of congestion at India’s urban cities only seems to be getting worse. Services like scooter-sharing may be a solution for urban Indians, the company hopes. Uber users were able to save nearly 40% of their time when they traveled through ‘Uber Moto,’ Quartz reported.
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