Liquidity Events
Chalo acquires 2-wheeler rentals startup Vogo
Chalo Mobility Services, which owns a mobile app that helps users track buses across cities and book tickets online, has acquired Bangalore-based scooter and bike rentals service Vogo. The deal would add to Chalo's bus technology services by offering first- and last-mile rides at major bus stops and other public places. As a part of this acquisition, Vogo is switching to electric vehicles across its fleet and will expand beyond two-wheelers and offer other types of EVs to suit market needs. Vogo founder Anand Ayyadurai will step into a new leadership role at the Chalo group and Padmanabhan Balakrishnan, previously Vogo's chief operating officer, will serve as the chief executive officer. Abhimanyu Goyal, who was vice-president - engineering, will now be elevated to chief technology officer; and Sharath Parameswaran, vice-president- operations and growth, will be designated as the chief business officer of Vogo. Chalo has a presence in 37 cities across 13 Indian states including Maharashtra, Delhi, Karnataka, Kerala, Madhya Pradesh, Tamil Nadu, Uttar Pradesh, Bihar and Assam.
From the Venture Intelligence PE-VC Deal Database: Lightrock India is a common investor in both companies. Between Jul-18 and Feb-21, Vogo had raised over USD 63 M in equity and venture debt capital from Ola, Matrix Partners India, Lightrock India, Stellaris Venture Partners, Kalaari Capital, Matrix Partners India, Alteria Capital, Sachin Bansal, BlackSoil Capital and Others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.) Chalo is backed by Filter Capital, The Raine Group, WaterBridge Ventures, Lightrock India, Burman Family Office, Xiaomi, Shunwei Capital, AdvantEdge Partners, VH Capital and others.
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