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Chalo Raises $45 Million In Series D Round

The company has secured an additional $12 million as venture debt funds from Trifecta and Stride Ventures. On the whole, the company raised $119 million till date

Chalo Raises $45 Million In Series D Round
POSTED ON May 23, 2023 1:52 PM

Public transport technology start-up, Chalo, has raised $45 million in its Series D funding round. The round was led by Avataar Ventures, along with existing investors Lightrock India, WaterBridge Ventures, and Amit Singhal (former Senior VP and Head of Google Search). 

The company has secured an additional $12 million as venture debt funds from Trifecta and Stride Ventures. On the whole, the company raised $119 million to date. 

With this capital, Chalo plans to focus on increasing sustainable e-vehicles on the road–both buses and e-bikes–and further enhance its tech capabilities towards 100 per cent digitisation of buses. Additionally, it will work on expanding its footprints in international markets after its entry into South-East Asia.

The company claims to have built a tech stack to digitise bus operations and offer a digital bus experience. It offers a dedicated mobile app for operators with which they can monitor their buses live, as well as a digital ticket platform that enables mobile, card, and cash tickets in buses. 

It is present in 51 cities and it live tracks 15,000 buses in India and select international markets. It also runs premium office commute buses in Delhi and Kolkata under the Shuttl brand name and has a fleet of e-bikes for first and last-mile connectivity under the brand name Vogo.

Chalo has also partnered with BEST in Mumbai to launch the Chalo Bus, an all-day-long premium AC bus service, where passengers can reserve their seats in advance on the Chalo App.

Mohit Dubey, CEO, of Chalo, said “In the last two years, our capabilities have grown significantly. We have strengthened our core business of city buses, and now offer a multi-modal public transport network solution to cities, encompassing city buses, premium buses, and first and last-mile connectivity. This is a large step forward in our journey to make everyday travel better for everyone.”

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