Total amount raised
$189.6 Millions
Latest funding date
Location
Vogo has successfully raised funds through multiple rounds, with the latest being a Series C round closed on February 18, 2021. The company is backed by 22 investors, including notable names like Kalaari Capital and Matrix Partners India.
Keep reading to explore the intricacies of Vogo's fundraising journey and the investors backing this innovative platform.
What Is Vogo?
Vogo, founded in 2016, operates in the rental, sharing economy, transportation, and travel industries. The company is headquartered in Kormangala, Karnataka, India.
Founded by Anand Ayyadurai, Balakrishnan Padmanabhan, and Sanchit Mittal, Vogo has grown to employ between 501 and 1000 people. The company offers dockless scooter rentals, allowing customers to rent scooters for short one-way trips with minimal human intervention.
How Much Funding Has Vogo Raised?
- Amount Raised: $100M
- Date: December 2018
- Lead Investors: Ola
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Vogo's fleet and enhance its technology platform.
- Amount Raised: ₹631.5M
- Date: January 2019
- Lead Investors: Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve market penetration.
- Amount Raised: ₹250M
- Date: June 2019
- Lead Investors: Alteria Capital, Navi Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business expansion and operational scaling.
- Amount Raised: ₹80M
- Date: October 2018
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance fleet size and improve service availability.
- Amount Raised: ₹212.4M
- Date: November 2019
- Lead Investors: Stellaris Venture Partners, Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand fleet and improve unit economics.
- Amount Raised: $35M
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and market expansion.
- Amount Raised: $19.1M
- Date: February 2020
- Lead Investors: Lightrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To extend the company's runway and adapt to new business models.
- Amount Raised: ₹30M
- Date: April 2020
- Lead Investors: Exponentially I Mobility
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business continuity during the pandemic.
- Amount Raised: $11.5M
- Date: February 2021
- Lead Investors: Lightrock, Kalaari Capital, Matrix Partners, Stellaris Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand and electrify Vogo's fleet, improve unit economics, and achieve profitability.
Total Amount Raised: $196.6M
Current Valuation: Not publicly disclosed
Key Investors
- Kalaari Capital
- Details: Kalaari Capital is a venture capital firm that invests in early-stage, technology-oriented companies in India. They have been instrumental in supporting startups that have the potential to disrupt markets.
- Investment Focus Areas: Early-stage technology startups, consumer internet, e-commerce.
- Notable Investments: Dream11, CureFit, Urban Ladder.
- Matrix Partners India
- Details: Matrix Partners India focuses on early-stage investments in consumer technology, B2B, and enterprise sectors. They have a strong track record of backing successful startups in India.
- Investment Focus Areas: Consumer technology, enterprise, fintech.
- Notable Investments: Ola, Practo, Quikr.
- Lightrock
- Details: Lightrock is an investment firm that focuses on businesses contributing to sustainable development and positive social impact. They support companies that aim to create a more inclusive world.
- Investment Focus Areas: Healthcare, education, financial services.
- Notable Investments: Not publicly disclosed.
- Stellaris Venture Partners
- Details: Stellaris Venture Partners is a venture capital firm that invests in early-stage technology and technology-enabled businesses in India. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Technology, consumer internet, SaaS.
- Notable Investments: Mamaearth, Whatfix, LoadShare.
- Ola Cabs
- Details: Ola Cabs is a leading ride-hailing company in India that also invests in mobility and transportation-related startups. They have expanded their portfolio to include various transportation solutions.
- Investment Focus Areas: Mobility, transportation, electric vehicles.
- Notable Investments: Not publicly disclosed.
What's Next for Vogo?
Vogo's future looks promising as it aims to expand and electrify its fleet, tapping into the growing demand for sustainable urban mobility solutions. With a user base of 3 million and over 10 million rides completed, the company is well-positioned to capitalize on the increasing focus on electric vehicles and tech-enabled self-ride services.
As Vogo continues to grow, future fundraising opportunities may arise to support its ambitious goals. The company plans to enhance its unit economics and asset utilization, which could attract further investor interest. However, challenges such as achieving profitability and managing fleet expansion remain, especially in a competitive landscape with players like Bounce also making significant strides.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Vogo and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
