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#Announcement(Startup) #Celebration [ via IoTForIndiaGroup ]
Founded in 2016 by Anand Ayyadurai, Padmanabhan Balakrishnan and Sanchit Mittal, Vogo is a dockless scooter sharing company. The platform lets consumers rent scooters for short one-way trips to different locations across Bengaluru and Hyderabad. The app enables users to locate, unlock, and pick-up its scooters and bikes at one point, and drop it off at a different point, without the need for a docking station. The scooters come with a lockbox which dispense keys when the customer enters an OTP, eliminating the need for any human intervention and start the ride seamlessly. The consumers are charged INR 5 per kilometre. The company plans to leverage the association with Ola to study traffic and the heat map of users to identify potential access points.
Anand Ayyadurai, Founder & CEO, Vogo commenting on Merisis’ role in the transaction said: “Merisis’ significant expertise in the Technology enabled Transportation industry, having done deals earlier for Ola and Zipgo, helped us in articulating Vogo’s strong economic model clearly. Their extensive network among the institutional investors helped cut down the time it took to get investors interested.”
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