- Vogo said that it plans to use this investment to expand across the country
- Vogo is a dock-based scooter sharing platform
Vogo Automotive has raised about $20 million as per regulatory filings. The investment round was led by LGT Lightstone Aspada, with participation from existing investors Matrix Partners India, Kalaari Capital, and Stellaris Venture Partners.
Vogo said that it plans to use this investment to expand across the country and strengthen its IoT technology. It provides on-demand scooter rentals to over 2.5 million users across India.
Dock-based model using IoT technology
Anand Ayyadurai, CEO of Vogo, said that there is a big opportunity to disrupt the market with the right offering and a sustainable model. The company’s growth has been on the back of the strength of having a dock-based model using IoT technology.
Vogo is a dock-based scooter sharing platform. It allows customers to pick up and drop scooters from specific points.