BENGALURU: On-demand mobility company Vogo Automotive has closed an investment round led by LGT Lightstone Aspada , with participation from existing investors Matrix Partners India Kalaari Capital and Stellaris Venture Partners The company has raised about $20 million, regulatory filings show.

The investment will be used to help Vogo expand across the country and further strengthen its IoT technology, Vogo said in a statement.

The company provides on-demand scooter rentals to more than 2.5 million users across India.It is a dock-based scooter sharing platform where consumers are asked to pick up and drop scooters from specific points.

It competes with Bounce, a Sequoia and Accel backed startup that uses dockless scooters.“There is a large opportunity to disrupt the market with the right offering and a sustainable model.

Our growth has been on the back of our unique strengths of having a dock-based model... using IoT tech,” Anand Ayyadurai, CEO of Vogo, said. | To read full story, visit https://startuparound.com/read/1582862405.1346617/Vogo-has-$20-million-from-Aspada,-others?ref=audio_experience