PE Fund Investments
Bus tracking service provider Chalo raises $45-M Series D round
Mumbai-based bus tracking and ticketing service provider Chalo has raised USD 45 million as Series D funding. This round is led by incoming investors Avataar Venture Partners, along with existing investors Lightrock India, WaterBridge Ventures, and Amit Singhal (former Senior VP and Head of Google Search). Chalo has also raised an additional USD 12 million in venture debt from Trifecta Capital and Stride Ventures. This takes the total funds raised by Chalo to USD 119 million so far. Chalo is operational in 51 cities live-tracking 15,000 buses in India and select international markets. Chalo also runs premium office commute buses in Delhi and Kolkata under the brand name Shuttl; and has a fleet of e-bikes for first and last mile connectivity under the brand name Vogo. Recently, Chalo also partnered with BEST in Mumbai to launch the Chalo Bus, an all day long premium AC bus service, where passengers can reserve their seats in advance on the Chalo App.
From the Venture Intelligence PE-VC Deal Database: Between Dec-17 and Apr-22, Chalo had raised over USD 75 M from Lightrock India, Matrix Partners India, Kalaari Capital, Filter Capital, The Raine Group, WaterBridge Ventures, Burman Family Office, Xiaomi, Shunwei Capital, AdvantEdge Partners, VH Capital, Others.
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