Bus transport tech platform Chalo raises Rs.53-Cr from Fitler Capital, others

Navi Mumbai-headquartered, Lightrock-backed bus technology platform Chalo Mobility has raised INR 52.5 crore (about USD 6.1 million) in a funding round, which was a mix of equity and debt, from existing investor Filter Capital, MGB Resources and co-founders Mohit Dubey, Priya Singh, Vinayak Bhavnani. Chalo would issue 2.1 lakh Series K optionally convertible redeemable preference shares (OCRPS) to raise the sum.On the financial front, the firm’s operating revenue went up by 34% to INR 137.5 crore from INR 102.7 crore in FY23. Chalo’s standalone loss after tax increased 42% to INR 135.7 crore in FY24 from INR 95.3 crore in FY23.Chalo offers real-time bus tracking, digital ticketing, and contactless payment solutions, aiming to improve the bus travel experience for passengers and operators.