Ola to invest $100m in Indian scooter sharing startup Vogo
INTERNATIONAL - Indian ride-hailing firm Ola will invest $100 million in Vogo, a domestic scooter sharing start-up, and add the company’s fleet of two-wheelers to the Ola app to broaden the range of vehicles it offers, the companies said in a joint statement on Tuesday.
Vogo, which provides services in the southern Indian cities of Bengaluru and Hyderabad, will use the money to expand its fleet by 100,000 scooters. It did not disclose how many scooters it currently has but said that more than 100,000 users have commuted for over 20 million kilometres using its two-wheelers.
“Our investment in Vogo will help build a smart multi-modal network for first-last mile connectivity in the country,” Ola co-founder and Chief Executive Officer Bhavish Aggarwal said in the statement.
Ola was founded eight years ago by Bhavish Aggarwal and Ankit Bhati. It initially ran in Bangalore but soon expanded to other cities including Delhi, Pune, Chennai and Hyderabad.Reuters