Chalo, a mobile app that allows users to track buses between cities and book bus tickets online, has announced the acquisition of Vogo, a two-wheeler shared mobility startup. According to a source familiar with the situation, the arrangement is a stock swap between the two companies and does not include any cash payments from Chalo to Vogo.
Vogo will expand its bus technology services by providing first- and last-mile trips at major bus stations and other public locations, according to Chalo. In a statement, Chalo stated, “This would enable crores of bus passengers to quickly get to and from bus stops, and will further improve bus ridership as it becomes more comfortable to use a bus.”
Vogo is transitioning its whole fleet to electric cars as part of the deal, and the business plans to grow beyond two-wheelers and provide various types of EVs to meet market demand, according to a statement. Vogo will continue to be known by the same brand name, thanks to investors such as Matrix Partners, Stellaris Venture Partners, and Ola. Anand Ayyadurai and Padmanabhan Balakrishnan, the company’s founders, will relocate to Chalo, as will the remainder of the Vogo crew. According to Tracxn data, the corporation has collected $180 million thus far.
Ayyadurai will step into a new leadership role at the Chalo group; Padmanabhan, previously Vogo’s chief operating officer, will now serve as the chief executive officer; Abhimanyu Goyal, who was vice-president- engineering, will now be elevated to chief technology officer; and Sharath Parameswaran, vice-president- operations and growth, will be designated as the chief business officer of Vogo, Chalo said.
“ This acquisition offers Chalo key strategic gains,” said Vinayak Bhavnani, co-founder and chief technology officer, Chalo. “ Now we will be able to offer a convenient and cost-effective option for bus passengers to travel to and from bus stops, solving the door-to-door daily commute. This will increase bus ridership and serves our core purpose of making travel more convenient and reliable for all.”
“Given our shared DNA and values, we are pleased to join forces with the Chalo team,” Padmanabhan Balakrishnan, co-founder and chief executive officer, Vogo. “We have a common vision of solving the daily commute. Vogo democratised access to transport, and with Chalo we take this a step further in serving crores of people who rely on buses. We have already begun our transition to a 100% electric fleet and will also expand into new vehicle categories to serve people better.”
Chalo announced a $40 million funding round in October 2021, after which it said it had acquired office commute bus aggregator, Shuttl.
