Financial details of the deal of Chalo and Vogo, aimed to improve city mobility, were not disclosed.
Mumbai, NFAPost: Chalo said it has acquired of Vogo, a shared mobility startup, to improve bus connectivity for first- and last-mile rides by using technology.
The transport technology firm said the acquisition will help its plan to improve bus ridership and city mobility. The financial details of the deal were not disclosed.
Chalo Cofounder and Chief Technology Officer Vinayak Bhavnani said this acquisition offers Chalo key strategic gains.
“Now we will be able to offer a convenient and cost-effective option for bus passengers to travel to and from bus stops, solving the door-to-door daily commute. This will increase bus ridership and serves our core purpose of making travel more convenient and reliable for all,” said Chalo Cofounder and Chief Technology Officer Vinayak Bhavnani.
Vogo, before the coronavirus pandemic two years ago, was present in Hyderabad and Bengaluru to fulfill about 50,000 rides daily. Users could access petrol-powered two-wheelers through an app. As a part of this acquisition, the company is switching to electric vehicles across its fleet. Vogo will also expand beyond two-wheelers and offer other types of electric vehicles to suit market needs.
Vogo will continue to be known under the same brand name. Its founders Anand Ayyadurai and Padmanabhan Balakrishnan, and the rest of the Vogo team continue with Chalo and Vogo. Ayyadurai will take up a new leadership role for the Chalo group.
Padmanabhan Balakrishnan, previously Vogo’s Chief Operating Officer, will serve as the Chief Executive Officer. Abhimanyu Goyal, who was vice president for engineering, will be elevated to Chief Technology Officer. Sharath Parameswaran, who was the vice president for operations and growth, will become chief business officer of Vogo.
Vogo Chief Executive Officer Padmanabhan Balakrishnan said given the company’s shared DNA and values, Vogo is pleased to join forces with the Chalo team.
“We have a common vision of solving the daily commute. Vogo democratised access to transport, and with Chalo we take this a step further in serving crores of people who rely on buses. We have already begun our transition to a 100% electric fleet and will also expand into new vehicle categories to serve people better,” said Vogo Chief Executive Officer Padmanabhan Balakrishnan.
Chalo raised a $40 million Series C funding round in Oct 2021, taking its total funding to $62 million, and the acquisition of Shuttl shortly thereafter. Chalo has a presence in 37 cities across 13 Indian states including Maharashtra, Delhi NCR, Karnataka, Kerala, Madhya Pradesh, Tamil Nadu, Uttar Pradesh, Bihar, Assam, and others.