Ola To Invest $100 Million In Scooter-Sharing Startup Vogo
Ola is investing $100 million in scooter-sharing startup Vogo as it expands its operations beyond cabs in a bid to become a one-stop platform for urban transportation, and strengthen its turf against rival Uber.
Ola will boost Vogo’s supply by investing $100 million in 100,000 scooters, the ride-hailing company said in a statement on Tuesday. Vogo’s services will also be available for Ola’s 150 million-plus customer base, and users will be able to book two-wheelers from the Ola app itself, it said.
Founded in 2016, Vogo offers point-to-point dockless scooters for short commute in Bengaluru and Hyderabad. All scooters comes with an Internet of Things-based device that allows the customer to access the key via one-time password, and the users can locate the bikes via the app. Vogo said its scooters are present at more than 200 designated points in both the cities.
“Our investment in Vogo will help build a smart multi-modal network for first-last mile connectivity in the country,” Bhavish Aggarwal, co-founder and chief executive officer of Ola said in a statement. “Vogo’s automated scooter-sharing platform, backed by Ola’s expertise in this space can help transform our cities.”
Ola’s Expanding Universe
Ola is slowly is expanding its wings to tap into India’s urban mobility market. Earlier this year, Ola bought transportation information provider Ridlr. It started testing a bicycle-sharing service in IIT Kanpur campus called Ola Pedal last year.