Why Ola-backed Vogo believes short-term rentals can change India’s bike usage habit
24 April 2019 8:00 PM GMT
Buy or rent is now an option for bikes too. And three-year-old startup Vogo wants to change the game by getting Indians to buy less and rent more.
- For a company that has just 4,000 bikes on the road serving up 30 lakh rides per year across three cities, that's a tall order, especially given how bikes, mopeds, and scooters fill every nook and cranny on Indian roads (and pavements too).
- Why Vogo thinks it can replace two-wheeler ownershipVogo is a dockless bike rental service, which means you can pick up a scooter from anywhere and drop it off once you've reached your destination.
- After $100M from Ola, Vogo raises another Rs 63 crore from Matrix, Stellaris, Kalaari and othersExperimentation, the way to goVogo started off using a docked model – a user had to come to the centre to pick up a bike and then drop it off at the same place or another centre.
- "Along the way we realised that a large opportunity lay in allowing people to pick up the vehicles and then drop them off anywhere.
- According to Anand, petrol costs work out to Rs 1.75 to Rs 2 per km, and maintenance another Rs 1.5 per km.
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