Merisis advises Vogo on its Series A fund raise from Ola, Matrix Partners, Stellaris Venture Partners, Hero MotoCorp chairman Pawan Munjal and Others

August 14, 2018

Merisis Advisors is pleased to announce that its client, Vogo Automotive Pvt. Ltd., a leading scooter rental company offering an on-demand network of automated IoT enabled scooters, has raised Series A funding from Ola, Matrix Partners, Stellaris Venture Partners, Pawan Munjal, Chairman at Hero MotoCorp Ltd., Aprameya Radhakrishna, Founder & CEO at Vokal India, Mayank Bidawatka, Co-Founder at Vokal India, and Rajesh Yabaji, Co-Founder & CEO at Blackbuck.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.”About Vogo Automotive Pvt. Ltd.Founded in 2016 by Anand Ayyadurai, Padmanabhan Balakrishnan and Sanchit Mittal, Vogo offers a cost-effective quicker alternative to existing forms of transport. Vogo users can access scooters from designated pickup and drop points across Bangalore and Hyderabad and drop the scooter at any other point in the city. Vogo leverages innovative inhouse hardware that gets attached to the scooter, allowing the customer to access the key without any human interaction and be on their way. Using the Vogo mobile app, more than 27,000 users have commuted for over 6 million kilometres. For more information, visitwww.vogo.inAbout Merisis AdvisorsMerisis Advisors is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities. The firm also advises asset management companies on follow-on fund raise and exits for their portfolio companies. Merisis focuses on the technology, consumer, financial services and related sectors, having built significant domain knowledge and transaction experience. For more information, visitwww.merisisadvisors.com

AUTHORS

No items found.

Suggested READS

TVS Motors acquires 48% stake in Narain Karthikeyan's two-wheeler startup DriveX
Press
Valuations Dive in Pvt markets as VCs count cash - LiveMint
Press
Merisis Advisors to raise a dedicated startup fund
Press
Moonshine-Maker Ronin Wines Rakes In Fresh Funding
Press
Venture capitalists add tough riders to fund-raising pacts
Press
Fintech Startups Make Noise in Point-of-Sale Segment
Press

Suggested READS

Enterprise Tech Insights 2024: Unveiling Top Investor Trends Shaping the Digital Landscape
Press
Driving Investments: Key trends in transportation and cleantech for 2024
Press
From RegTech to cross-border, fintech trends to watch out for in 2024
Press
Point of Sale Sector: Projected Trends For 2024 and Beyond
Press
ET Soonicorns Summit, Panel on 'Road to IPOs'
Press
Fintech Startups Make Noise in Point-of-Sale Segment
Press
Top Factors Steering Investments in the Consumer Sector in 2024
Blogs
Consumer Spotlight Q3 FY 2016 – M&A and Private Equity Perspective on the Consumer Sector in India
Blogs
Advised Taurus On Its Stake Sale To Cikautxo
Blogs
Indian Luggage Industry – An Overview
Blogs
Enterprise Tech & Services - Driving 2023 with 6 key trends
Blogs
Gig Economy in India: Trends and Implications for Workers and Startups
Blogs
No items found.
No items found.