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Bus Transport Tech Company Chalo Raises $45 Million

PRIVATEJun 02, 2023

Amount Raised

$45 Million

Round Type

Funding Round

Navi MumbaiSoftware

Investors

Stride VenturesTrifectaAmit SinghalWater Bridge VenturesLightrockAvataar Ventures

Description

(This story originally appeared in on May 23, 2023)Public transport technology company Chalo has raised $45 million in a funding round led by Avataar Ventures, along with existing investors Lightrock India, WaterBridge Ventures, and Amit Singhal, former Senior VP and head of Google Search. Chalo also announced an additional $12 million secured in venture debt from Trifecta and Stride Ventures. This takes the total funds raised by the company to $119 million. The latest round values the company at around $450 million, sources said.Chalo is a tech platform to improve the consumer experience in city buses and make buses more reliable

Quick answer

Chalo raised $45 Million in a Funding Round round, dated June 2, 2023. Investors: Stride Ventures, Trifecta, Amit Singhal, Water Bridge Ventures, Lightrock and Avataar Ventures. Chalo is based in Navi Mumbai, Maharashtra, India.

How much did Chalo raise?
Chalo raised $45 Million in a Funding Round round on June 2, 2023.
Who invested in Chalo?
Stride Ventures, Trifecta, Amit Singhal, Water Bridge Ventures, Lightrock and Avataar Ventures are named as investors in this round.
What does Chalo do?
Chalo is India's #1 bus transport technology company that provides live bus tracking services and contactless payment solutions to transform everyday bus travel into a safer and more reliable experience.
Where is Chalo based and how big is it?
Chalo is based in Navi Mumbai, Maharashtra, India.
Who are the decision-makers at Chalo?
Fundz holds 1 contact at Chalo. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Software around the same time

Companies in the same sectors as Chalo that raised within 45 days of this round, from Fundz verified event records.

  • TripSuite raised $2M (Seed) on July 17, 2023.
  • Language IO raised $8M on July 17, 2023.
  • PVcase raised $100M on July 17, 2023.
  • Runway raised $27M (Funding Round) on July 17, 2023.
  • Pillir raised $250K on July 14, 2023.
  • Leverage raised $7M (Funding Round) on July 14, 2023.

Who to call at Chalo, and when

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Company Information

Company

Chalo

Location

Navi Mumbai, Maharashtra, India

About

Chalo is India's #1 bus transport technology company that provides live bus tracking services and contactless payment solutions to transform everyday bus travel into a safer and more reliable experience. Transport is a fundamental need - like water or air. More people are travelling more and more every day. Yet, only around 15% of Indians can afford their own car, private taxi or a two-wheeler. The remaining 85% depend on public transport. Moreover, with growing traffic and congestion it’s becoming increasingly clear that private transport is causing more problems than it is solving; and a small but significant (and growing) segment are outright rejecting car and bike ownership. At Chalo, our core purpose is to make travel better for everyone, and we believe that our cities, our health and our lives will be better when we improve the way we travel. We have begun our journey by focusing on bus travel - making it easier for those that rely on it, and also for those that are choosing it. Buses, as a mode of transport, form the core architecture of any city's transport system. They also offer the largest improvement areas and the largest opportunity to create an impact, with 2 out of 3 public transport users depending on buses for their travel. We welcome a conversation with anyone who shares our vision and values, and especially those who wish to offer a counter-point :-) Chalo!

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