Mumbai-based mobility startup Chalo has acquired Bengaluru-based two-wheeler rental platform Vogo in a share-swap deal. It’s a 100% buyout of Vogo. However, both the parties did not disclose the deal value.
According to Vogo, it would continue to be known under the same brand name and maintain its own app after the acquisition. As per a press statement, this acquisition offers Chalo some of the key strategic gains. Vogo will now augment Chalo’s bus technology services by powering first and last-mile rides at major bus stops and other public places.
As a part of this acquisition, the two-wheeler rental platform will now switch to electric vehicles (EVs) across its fleet. Vogo is also set to expand beyond two-wheelers and will offer other types of EVs to suit market needs, said the statement.
Vogo might also start offering e-rickshaws in the coming days and help people who cannot ride a bike to commute better in cities.