Private Equity Fund Investments
Transport tech startup Chalo raises $40-M from Lightrock India, Filter Capital, others
Mumbai-based public transport technology service Chalo has raised around USD 40 million (about INR 297.8 crore) led by Lightrock India and Filter Capital. The Series C round also saw participation from existing investors - WaterBridge Ventures, Raine Venture Partners, Neeraj Arora (former Chief Business Officer of WhatsApp) and Amit Singhal (former Google SVP). With this fundraise, Chalo aims to invest further in technology, deepen its presence in India and expand to international cities. USD 10 million of the proceeds is being used to buy back ESOPs of current and former employees, as well as to enable early angel investors to monetise. Raine Group was the exclusive advisor for this transaction. Chalo has 15,000 buses live on its platform and a presence in 31 cities across Karnataka, Kerala, Madhya Pradesh, Bihar, Assam, Tamil Nadu, Uttar Pradesh and other states.
From the Venture Intelligence PE-VC Deal Database: Previous investors in Chalo also include Xiaomi, Shunwei Capital, AdvantEdge Partners, VH Capital, Burman Family Office, Tarun Sawhney of the Triveni Group.
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