Ola co-founder and CEO Bhavish AggarwalBengaluru: India’s leading cab-hailing service Ola (ANI Technologies Pvt Ltd), an existing investor in Vogo, has invested $100 million in the scooter-sharing startup as part of a new strategic alliance that effectively signals Ola’s entry into the bike sharing space. Ola said the investment will boost the supply on Vogo’s platform by helping the startup acquire at least 100,000 new scooters. Earlier this year, Vogo had raised $6-7 million in a Series A funding round led by Ola, Matrix Partners, Stellaris Venture Partners and Hero MotoCorp chairman Pawan Munjal. Ola said Vogo’s offerings would soon be available on Ola’s platform through its mobile app. Last September, Vogo raised an undisclosed amount as part of a seed round from AV Thomas Group chairman Ajit Thomas, former Formula One driver Karun Chandhok and other individual investors.

Source: Mint December 18, 2018 07:07 UTC