Dec 18, 2018
Ola will invest $100 million in the Bengaluru-based scooter sharing platform Vogo. The company will use the money to expand its market supply by 100,000 scooters.
India’s popular cab service Ola developed by ANI Technologies Pvt. Ltd. is an existing investor of Vogo along with Matrix Partners, Stellaris Venture Partners and Hero MotoCorp.
The investment in scooter-sharing startup has been done as part of action plan by CEO and co-founder of Ola Bhavish Aggarwal to grab a wider market. This signals Ola’s entry into two-wheeler sharing. Expectedly, the ride-hailing service by Vogo will be available on Ola app.
Vogo provides services in the cities of southern Indian like Bengaluru and Hyderabad.
The app enables users to locate and pick-up their scooter from one location and drop it off at a different location. The rider can pick the scooter and return it to the station from where it is picked in case of a round trip.
The scooters have integrated IoT device, which allows rider to unlock the scooters using an OTP generated from the Android app.
Both Ola and Uber have not only offered mobility with commutation options, but have also made their services accessible with just few clicks. This new investment may come up with yet another option in near future in other cities of India for those who frequently travel alone and don’t want to rent a four-wheeler.