Loading...
By
Lightrock, Kalaari, others pump more money in scooter rental startup Vogo
Photo Credit: 123RF.com

Vogo Automotive Pvt Ltd, a shared scooter rental startup, has raised $11.5 million (Rs 83 crore) in an extended Series C round of funding from existing investors.

Lightrock (formerly LGT Lightstone Aspada), Kalaari Capital, Matrix Partners India and Stellaris Venture Partners participated in this round, as per a press statement.

The startup, launched in 2016, provides scooter rentals to nearly 3 million users across India. It has served 10 million rides across Bengaluru and Hyderabad. Vogo, which operates through a dock-based model, also has a strategic partnership with ride-hailing firm Ola.

In February last year,  the scooter rental startup had raised $19 million in Series C funding led by LGT Lightstone Aspada.

Vogo had raised Rs 25 crore from venture debt firm Alteria Capital in June 2019. That month, it also raised funding from a clutch of prominent investors including former Myntra chief executive officer Ananth Narayanan, serial entrepreneurs K Ganesh and Srini Anumolu, and SVG Media founder Manish Vij.

Other startups in the mobility sharing and rental segment include Rapido and Bounce. In January last year, Bengaluru-based Bounce raised $105 million in a Series D funding round led by Accel and B Capital.

 In August last year, Rapido raised Rs 391 crore in its Series B funding round led by private equity firm WestBridge Capital. Others that participated included BAce Capital and Shunwei Capital.

Leave Your Comment(s)