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