Phhhheeewwww 90s. Liberalisation of Economy, Rise of Sachin Tendulkar and 3 Khans and Masjid Demolition. Ask anyone and you will have an answer in this pattern.Wait, not finished yet? One thing missing: Humaara Bajaj. So how is that missed? Bajaj, the heart of every 2 vehicle rider in 1990s vanished somewhere with the transition of bikes. But why this Bajaj mentioned? What makes it special after 20 years?
An IIM Ahemdabad grad after 7years of work ex if brings the old days of sitting in scooters on rental basis then don’t sit for nostalgic moments, sit for the moments to make it a ride worthy for daily commute. Name is Vogo , a Bengaluru based startup established in the year 2016 trying to tap the scooter rental sector.
Across India, using autos and taxis for daily commutes is not only expensive but time-consuming as well. Besides, public transport is not always accessible and remains a hassle for most people. Outside India, cycle sharing is the option of choice for short trips and as a last-mile link to public transport. Especially in China, multibillion-dollar cycle-sharing companies have been built. In India, given our roads, climate, and lack of cycle lanes, scooter sharing is the right solution and not cycles.
Vogo offers on-demand IoT-enabled scooters available across the city. Customers can pick up and drop one-way at any point within the city and use Vogo to get to work or to access public transport.
A user can book an IoT-enabled SPARK scooter on an hourly basis. Every SPARK scooter has in-built key box and an array of sensors. Once customers pay online, they receive an OTP to be entered on the keypad to extract the scooter key. When the ride has been completed, they plug the key back. At the backend, an array of sensors monitoring and tracking multiple aspects of every SPARK, be it handlebar locks, fuel levels, battery levels, etc. This has been built completely by an in-house technology team and is the first time in the world that a mechanical scooter has been converted into a smart IoT device.
This data can then be analysed to build predictive models which can be used to forecast and rebalance supply and demand, understand and incentivise good riding behaviour patterns, and predict future parking requirements in different parts of the city.
From Rags to Atilla:
Starting with one scooter, Vogo acquired 18 within a week and currently there are 250 standing in the fleet. The strength of the team is 15. The basic hindrance which they one would had face in the nourishing stage is to chisel out the learning of an employee gained in startups. Next, in terms of scalability of funds they had to take viable decisive steps to move further unlike the startups where they worked was already established.
Story with the strong script earns accolades without super-stars and the same happened. Vogo captured 5k bookings every month with 15k customers’ base stretching in the cities like Bengaluru, Hyderabad, Manipal and Mysuru.
One can comment that it’s a short span victory with meagre haul. Patience is the key to know these gems of tomorrow and they are proving with their verdicts and actions. Vogo is disrupting this segment by offering a more efficient, automated and cost-effective option of scooter sharing and renting. They operate an asset-light model and have a differentiated product roadmap that puts them ahead of the pack. The company further claims that the new technology has helped bring down the cost of one-way travel to 50% of the price of autos and taxis.
This in itself displays the hallmark of their so-called actions and implementation of operations. For its fleet supply, Vogo works with OEMs such as Honda, TVS Motor Company and Hero MotoCorp along with dealers and individuals through a peer-to-peer model. The firm is targeting to cross 1 lakh rides over the next 12 months.
Discuss the Money Bag:
Vogo raised $6-7 million in a Series A funding round led by ANI Technologies Pvt. Ltd and Hero MotoCorp . Ola first invested back in August when Vogo raised an undisclosed Series A round from Ola, Matrix Partners and other investors, but now Ola is doubling down with this follow-on deal. Ola’s money is going directly into supply, with Vogo planning to buy 100,000 more scooters for its platform. Ola has announced that the company will be investing $100 million (around ₹ 710 crore) in Vogo – India’s fast-growing scooter sharing network.
Vogo – Founder and CEO, Anand Ayyadurai said, “Vogo has seen rapid growth in the last 5 months, growing over 10x in scale. We are thrilled to have Ola join us on this journey and help turbocharge our growth by providing us access to strategic and capital efficient supply as well as access to millions of customers on its platform in the time to come. Ola’s deep understanding of mobility and their investment to power additional supply are extremely valuable to Vogo. As we enter into our next phase of growth, we look forward to executing our synergistic vision of the future: smart and sustainable mobility for all.“