According to sources apart from Ola the other investors to participate in this round of funding for Vogo will be Stellaris Venture Partners and Matrix Partners India, even as the urban mobility space is receiving increasing attention, with Uber getting into bicycle sharing in major US cities, Ola’s interest in scooter sharing business in India is quite understandable.
Meanwhile in fact, Ola is currently also piloting Ola Pedal, a bicycle sharing service in some university campuses including IIT Kanpur. Presently Vogo has designated points in cities from where customers can ride away in a scooter and once their work is completed, park it in the designated points and carry on.
Moreover the other startups in similar space include Metro bikes and
RentOnGo. Further the second mentioned has been promoted by the TVS Group while
Metrobikes is said to be currently in talks with major VCs, like Sequoia
Capital and Accel to raise $10 million in funding. Earlier Vogo itself had
raised funds from South-based business families like the Murugappa Group, AV
Thomas (the tea people) and the Thiagarajans (Shriram Group).