Uber rival Ola invests $100m in scooter sharing startup
- Tuesday, December 18th, 2018
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Ola, Uber’s biggest rival in India, has decided to get involved in the scooter sharing game with an investment of $100m in Indian scooter rental startup, Vogo.
The investment will see Vogo scooters ‘soon’ become available for booking through the Ola app to the firm’s over 150m customers – with the ride-hailing platform investing in 100,000 scooters. In addition, Ola has invested in Vogo as part of the company’s Series A fundraising round, which included participation from Matrix Partners India and Stellaris Venture Partners.
“Ola is committed to building a robust mobility ecosystem in India, creating a deep impact on livelihoods and how citizens get around,” said Bhavish Aggarwal, co-founder and CEO of Ola. “Our investment in Vogo will help build a smart multi-modal network for first-last mile connectivity in the country. Vogo’s automated scooter-sharing platform, backed by Ola’s expertise in this space can help transform our cities. Together, we are thrilled to be at the forefront of India’s rapidly growing micro-mobility market.”
Currently, Vogo’s dockless scooters are only available in Bengaluru and Hyderabad, but it can be expected that – with Ola’s backing – the company will expand to locations around India where Ola has a significant presence.
“We are thrilled to have Ola join us on this journey and help turbocharge our growth by providing us access to strategic and capital efficient supply as well as access to millions of customers on its platform in the time to come,” said Anand Ayyadurai, founder and CEO of Vogo. “As we enter into our next phase of growth, we look forward to executing our synergistic vision of the future: smart and sustainable mobility for all.”