Total amount raised
$143.9 Millions
Latest funding date
5/1/2023
Location
Chalo has successfully raised $119 million over multiple funding rounds, with its latest being a Series D round. The platform offers a transportation app that provides real-time transit information, making public transport more accessible and efficient.
Keep reading to explore the intricacies of Chalo's fundraising journey and the investors backing this innovative platform.
What Is Chalo?
Chalo, founded in 2014, is a transportation technology startup based in Mumbai, Maharashtra, India. The company specializes in providing real-time transit information through its app, enhancing the public transport experience.
Chalo was founded by Dhruv Chopra, Mohit Dubey, Nikhil Aggarwal, Priya Singh, and Vinayak Bhavnani. The platform offers features like live bus tracking, digital tickets, and mobile passes, making bus travel more convenient and efficient.
With a team of 101-250 employees, Chalo partners with bus operators to deliver seamless and cashless travel solutions. The company continues to innovate in the public transportation sector, aiming to make commuting easier for millions of users.
How Much Funding Has Chalo Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 1, 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Chalo's technology platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 16, 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand initial operations and refine the app's features.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 27, 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the app and increase user acquisition.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 1, 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology stack.
- Venture Round
- Amount Raised: $7M
- Date: January 13, 2021
- Lead Investors: Raine Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expand into new markets.
- Series C
- Amount Raised: $40M
- Date: October 5, 2021
- Lead Investors: Filter Capital, Lightrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To acquire Shuttl and increase capacity to 25 million rides per month.
- Venture Round
- Amount Raised: $13.9M
- Date: April 5, 2022
- Lead Investors: Lightrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and support expansion.
- Series D
- Amount Raised: $26M
- Date: April 24, 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and technology improvements.
- Debt Financing
- Amount Raised: $12M
- Date: May 22, 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and operational expansion.
- Series D
- Amount Raised: $45M
- Date: May 22, 2023
- Lead Investors: Avataar Venture Partners
- Valuation at Round: $400M to $500M
- Motivation Behind the Round: To increase electric buses and bikes, digitize buses, and expand internationally.
Chalo has raised a total of $119 million with a current valuation of $400M to $500M.
Key Investors
- Avataar Venture Partners
- Details: Avataar Venture Partners is a venture capital firm that invests in growth-stage B2B and SaaS companies. They focus on scaling businesses to achieve global market leadership.
- Investment Focus Areas: B2B, SaaS, technology.
- Notable Investments: Zenoti, Amagi, ElasticRun.
- Lightrock
- Details: Lightrock is a global private equity firm focused on impact investing. They aim to support sustainable and scalable businesses that address pressing global challenges.
- Investment Focus Areas: Education, healthcare, clean energy.
- Notable Investments: Byju's, CureFit, Ather Energy.
- Filter Capital
- Details: Filter Capital is a venture capital firm that invests in early to growth-stage technology companies. They focus on businesses that leverage technology to create significant value.
- Investment Focus Areas: Technology, digital media, fintech.
- Notable Investments: Not publicly disclosed.
- Raine Ventures
- Details: Raine Ventures is a venture capital firm that invests in high-growth technology, media, and telecommunications companies. They provide strategic support to help companies scale.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: DraftKings, SoundCloud, Vice Media.
- Trifecta Capital Advisors
- Details: Trifecta Capital Advisors is a venture debt firm providing structured debt financing to startups. They support companies in achieving their growth objectives without diluting equity.
- Investment Focus Areas: Venture debt, growth-stage companies, technology.
- Notable Investments: BigBasket, UrbanClap, CarDekho.
What's Next for Chalo?
Chalo's future looks promising with significant opportunities on the horizon. The company plans to expand its technology stack and operations both within India and internationally. With the recent $57 million funding round, Chalo aims to increase the number of electric buses and bikes, digitize more buses, and enhance the reliability of its services through live tracking and contactless payments.
As Chalo scales, future fundraising opportunities seem likely, especially given the strong backing from investors like Avataar Venture Partners and Lightrock. However, challenges such as integrating new technologies, managing an expanding fleet, and navigating regulatory hurdles in new markets could pose obstacles. Despite these challenges, Chalo's commitment to innovation and growth positions it well for continued success in the public transportation sector.
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