Vogo, an India-based scooter rental platform developer that counts ride hailing service Ola as an investor, has added a reported $11.5m to its series C round, the Economic Times has reported.
Venture capital firms Lightrock, Kalaari, Matrix Partners and Stellaris Venture Partners provided the funding, adding to the $19m it received from LGT Lightstone, Matrix Partners and Kalaari Capital in February 2020.
Vogo runs an app-based bicycle and electric scooter rental service in the Indian cities of Bangalore and Hyderabad, offering both flexible and on-demand rental plans.
Kalaari Capital had led an $8.9m round for Vogo in early 2019 that included Matrix Partners India, Stellaris Venture Partners and Pawan Munjal’s family trust, weeks after Ola reportedly invested $100m, in a deal Business Standard said involved it buying 100,000 scooters for Vogo’s platform.
The company had previously received between $6m and $7m in a 2018 series A round co-led by Ola and Pawan Munjal that also featured Matrix Partners India, Stellaris Venture Partners and unnamed angel investors.
