Ola to invest $100 million in scooter startup Vogo

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Ola which is currently competing with Uber to become the largest ride-hailing service company in India will invest $100 million (Rs.720 crores) in Vogo which is an upcoming scooter startup according to a report by the Financial Times.

Ola-invests-$100mln
Ola to invest $100 million in scooter startup Vogo

Vogo was launched in 2016 and has over 2,000 scooters which operate in various parts of Bengaluru and Hyderabad. Vogo will also dole out its services to more than 150 million customers who use Ola on a daily basis.

A commuter can use Vogo and use the company’s moped-style scooters from about 200 designated service points in Bengaluru and Hyderabad.

Vogo which has been backed by Hero Motocorp will see Ola become its largest shareholder. Ola is planning to introduce Vogo services as the customers can directly book a scooter from the Ola app.

However, it is understood that despite the massive investment made by Ola, Vogo will continue to function as an independent company.

This is Ola’s latest move to diversify its product on offer as it battles with Uber to become the largest company in the transport sector. Ola recently launched its services in Australia

Sources: Financial Times, LiveMint, Bloomberg Quint, VCCircle

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