Steadview Capital to lead $50 million funding round in scooter rental startup Vogo: Sources

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Steadview Capital is, reportedly, in a dialogue to head $50 million (approx INR 359 crore) funding round in Vogo, a Bengaluru-based two wheeler vehicle (scooter) rental startup, reported Mint, citing sources.

The above cited sources revealed that Matrix Partners, Stellaris Venture Partners and Kalaari Capital are also expected to participate in the round.

The sources said, “Steadview has had early conversations with Vogo for an investment, but it is still evaluating the viability and scalability of the sector.”

Vogo was launched in 2016 by Anand AyyaduraiPadmanabhan Balakrishnan, and Sanchit Mittal. It offers scooters on rent across five Indian cities.

The platform provides scooters and motorcycles on rent through its mobile application wherein users can pick up and drop the vehicles at dedicated places within a city.

The service is currently available in Hyderabad and Bengaluru. Vogo is backed by Ola and both have a common investor Matrix Partners.

“Steadview is also an investor in Ola, Matrix’s biggest company, and hence Matrix is also driving the conversation for Steadview to invest,” one of the sources said.

Some of the significant startups under the similar roof include Yulu, Uber, Bounce, Rapido, Ola, among more.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Edtech space AttainU raises an undisclosed sum from former head of Google India, others

AttainU, an edtech startup, has raised an undisclosed capital in angel funding from a clutch of investors including Shailesh...

Root Ventures invest an undisclosed sum of capital into healthy food startup Kaarya Naturals

Kaarya Naturals, a health food company has bagged an undisclosed sum of money from Roots Ventures. Mumbai-based foodtech startup will use the infused funds to...

Ronaldo looking for ‘Edna’, girl who gave him free burgers

New Delhi, Sep 19 (IANS) Football star Cristiano Ronaldo in his recent interview with Piers Morgan revealed about his humble background and how he...

Sharath-Sathiyan pair enters Asian quarters

New Delhi, Sep 19 (IANS) Indias doubles pair of G. Sathiyan and A. Sharath Kamal entered the quarterfinals beating Mahfoodh Sayed Murtadha and Rashed...

Lamba disqualified from Delhi Assembly

New Delhi, Sep 19 (IANS) Former Aam Aadmi Party leader Alka Lamba was here on Thursday disqualified from the Delhi Assembly by Speaker Ram...
- Advertisement -

More Articles Like This