Two Wheeler Shared Mobility Startup VOGO Raises $11.5 Million in Series C Extension Round
Founded in 2016, VOGO offers two-wheeler rides to daily commuters. Founded by Anand Ayyadurai, Padmanabhan Balakrishnan, and Sanchit Mittal, the Bangalore based startup has enabled over one million riders and more than five million rides so far. A statement mentioned that VOGO is marching towards profitability by the end of this year.
Anand Ayyadurai, Co-founder and CEO, VOGO, said, “Having significantly improved our unit level profitability in our existing business this year, we intend to utilise this capital to strengthen our product line and focus on better customer experience going forward.”
Vaidhehi Ravindran, Lightrock, said, “We are delighted to see the team at VOGO demonstrate resilience and come out of a tough year stronger made possible by clarity of vision, backed by strong execution and an ethos focused on creating value. We continue to support them despite the uncertainty in funding in the sector because we believe this is the team that has the vision and execution to build a large mobility platform for the Indian customer,” said.