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Bloomberg
Ola, India’s dominant ride-hailing startup, is investing $100 million in scooter startup Vogo as part of a deal that will let its users access the two-wheeled devices. The financing, which will be used by Vogo to add 100,000 scooters, is part of a fundraising round that also included Matrix Partners India and Stellaris Venture Partners.
“This infusion will give Vogo a strategic supply advantage without having to incur significant capital expenditure,†Ola and Vogo said in a statement .
Vogo operates dockless scooter sharing services in Bengaluru and Hyderabad.
Ola is one of India’s biggest ride-sharing providers, with more than a million drivers.