Set up to make daily travel easier for commuters, mobility startup Chalo is all set to expand its operations to newer cities and areas. The startup’s Chalo app allows users to track any bus live besides enabling the purchase of tickets by scanning the QR codes and paying through Chalo cards. Founded in 2014 by Mohit Dubey, Vinayak Bhavnani, and Priya Singh, Chalo operates in over 50 cities where commuters rely on bus services.
Services Offered
The company runs a full-stack tech platform that allows bus owners to digitize their operations while making it convenient for commuters to travel.
- It installs GPS systems in the buses to allow the commuters to track their commute in real-time.
- The app’s live passenger indicator provides real-time information about the number of passengers that are already on the bus allowing commuters to choose a less crowded option for travelling.
- The app also sells tickets and monthly passes for these buses by using a Chalo tap-to-pay card that stores a prepaid wallet.
- The company offers eBikes for first and last-mile connectivity under its Vogo brand.
- The acquisition of Amazon-backed Shuttl has allowed it to offer-premium office commuter buses in Kolkata and Delhi.
Funding Raised
The company has raised a total amount of $119 million which includes:
- $45 million was raised from a Series D funding round led by Avataar Ventures besides its existing investors that include LIghtrock India and WaterBridge Ventures.
- $40 million in a Series C funding round in October 2021 that was led by Lightrock India and Filter Capital.
Chalo has also secured an additional venture debt of $12 million from Trifecta and Stride Ventures.
Financial Performance
Bangalore-based Chalo had recorded operating revenues of Rs 35.75 crore in FY22 as against Rs 26.17 crore in FY21. The company’s losses jumped two times to Rs 66.4 crore in FY22.
Expansion Plans
Chalo intends to use the funds to deepen its mobility offerings by including more electric buses and e-bikes. The company also intends to launch its services in more international markets.
