Vogo Automotive Private Ltd a Non-government Private Company established in 24 June 2015 has been funded a beneficial amount of $20m from its existing partner LGt Lightstone Aspada. The company produces scooters for rentals to more than 2.5 million users across India.

The investment round was participated by other existing investors like Matrix Partners India, Kaalari Capital, and Stellaris Venture Partners.

Aspada is an India focused investor which focuses on high influential companies like food supply chains, education, healthcare, financial services in India. LGT Lightstone Aspada was formed in partnership with Aspada and LGt in August 2019.

Vogo scooter is an IoT programmed dockless scooter sharing platform with an automatic pickup and drop facility which allows the customers to pick up and drop the scooter from specific locations.

It has IoT sensors that run on OTP based and allows the customers to get access to the key without the involvement of any human being.

The company aims to use the fund to expand its network across every part of India and build up a strong IoT technology.

Vogo challenges with “Bounce” a start up company, backed by Sequoia one of the greatest business investors and Arcel. CEO of Vogo said they can run successfully in the market if they have the right contribution and good model.