Bus travel remains popular in rural and metropolitan India for various reasons such as accessibility and affordable ticket costs, yet its transportation sector requires improvement due to inconveniences like waiting in line for buses and waiting time between booking tickets for them and riding them.
That is why Chalo was formed – using technology in 22 Indian cities Chalo provides easy city bus rides through technology-enabled solutions; here we discuss What Is Chalo Company Profile, Founding Team Members, Business Model, And Other Parameters Of Chalo.
About Chalo – Company
|Navi Mumbai, India
|Mohit Dubey, Priya Singh Dubey, Dhruv Chopra, Vinayak Bhavnani, Nikhil Aggarwal
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Chalo is a company that offers technology-driven mobility solutions with the goal of enhancing public transit. The major goal of the firm is to increase bus ridership by improving city bus services by making them more dependable, straightforward, simple, and time efficient.
Customers may follow any bus live and know its estimated arrival time using the Chalo App, which is provided by Chalo. As a result, you won’t have to wait at the bus stop and can instead arrange to get there just a few minutes before the bus arrives.
The Chalo app is cost-free and easily accessible on Google Play. The smartphone app is available for download right away, and users may use it to follow their buses in real time and, in some locations, to purchase bus passes and tickets.
Chalo – Founder and Team
Chalo was established by Mohit Dubey, Priya Singh, Dhruv Chopra, Vinayak Bhavnani and Nikhil Aggarwal in 2014. Of its five original founders – Mohit, Priya, Dhruv Chopra and Vinayak are still actively working at Chalo; Nikhil unfortunately left after only 6 months as COO/Co-Founder.
Mohit, Priya and Dhruv created CarWale and BikeWale which became India’s leading car/bike sites; Mohit later met Vinayak who shared similar interests from IIT Delhi who joined their efforts and so it all came full circle – where other urban Indians could benefit.
Start Up Story
While city traffic jams may be aggravating, they have become an unfortunate reality for most Indians. Navigating around cities has become difficult due to an excessive volume of vehicles congesting streets.
Mohit, Priya, Dhruv and Vinayak (co-founders of Chalo) discussed various solutions before concluding that highly developed public transit systems might help address this problem effectively.
Chalo’s Co-Founders discovered through research that buses were the preferred means of public transport in India (representing 48 percent of trips), offering great opportunity for improvement. Local bus services can be found virtually in every city across India whereas intracity train and metro services only cover limited towns (with smaller footprints).
Unfortunately due to unreliable and ineffective bus networks more people opted for private autos over buses – an opportunity which presented itself through employing technology as part of improving bus reliability and improving the riding experience.
Chalo’s Business Model
Chalo works closely with bus operators and their passengers or end users to improve the end users’ experiences, using its B2B model in favor of customers or end users by eliminating wait times for passengers and providing live tracking, payment systems and operational services without incurring initial outlays from bus companies themselves.
Chalo bears all capital expenditure (capex) and initial investment costs related to hardware such as GPS devices, ticketing machines and card readers while bus companies only pay part of those associated with any additional ridership brought about through bus companies’ paying capital expenditure (capex/II costs associated with hardware such as GPS devices/ticketing machines etc thereby benefiting all involved parties involved parties equally in every situation created through working together boosting ridership to boost ridership then charging bus companies a portion of those ridership gains created in turn ensuring everyone wins-win situation for everyone involved parties involved.
Chalo – Revenue Model
Chalo has raised an incredible $60.9 million so far. Lightrock India and Filter Capital led their latest $13.9 million funding round on April 5, 2022 while Raine Venture Partners, WalterBridge Ventures and other current investors such as Raine Venture Partners also played key roles. This fundraising round completed on October 5, 2021 was led by Lightrock.
Chalo had received $7 Million of Series B funding from Raine Venture Partners on January 13 2021 and now stands at an estimated valuation of around $365 Million as of July 11 2022; further, with this most recent round of financing Chalo is planning on improving technologies, strengthening their position within India, and broadening business activities globally.
Chalo – Products and Services
Chalo Cards utilise NFC touch-to-pay cards which allow passengers to store multiple tickets and wallets (for instance monthly passes).
Since COVID-19 came into force, contactless payments have greatly enhanced safety – no longer is carrying change a chore; Chalo has focused on adopting contactless bus payments to eliminate 95% of danger while increasing safety by 20 times;
Additionally they’ve unveiled the world’s first 100% trace and contact system that logs all trips across its network, allows reverse contact tracing capabilities, guarantees all passengers can be reached, while providing logs across their networks as well as providing reverse contact tracing capabilities so all passengers can reachable.
1. Chalo Mobile Bus Passes
Through the Chalo app, users can purchase bus passes or tickets and then use their QR codes to scan them when traveling by public transit. Students and travelers reliant upon bus passes no longer need to visit pass counters anymore; also no interaction or exchange of money occurs with conductors increases safety significantly.
2. Chalo Tickets
Chalo offers its customers an innovative ticketing option that allows them to buy tickets in advance and activate them before traveling.
3. Chalo Super Saver
Chalo offers adaptable prepaid plans through Chalo Super Saver that allow consumers to make significant travel savings using both their Chalo card and app.
Chalo – Funding and Investors
Chalo reported operational revenue of Rs 27.63 crore in FY21 as opposed to FY20’s figure of Rs 27.43 crore, experiencing no increase. In addition, losses had decreased dramatically by 42% reaching just Rs 33 crore this fiscal year.
Chalo – Growth
The overall amount spent on the shared commute in 2019 (including buses, cars, trains, cabs, and other means of transportation) was estimated to be around $83 billion.
Out of them, buses rank as the single most popular method of transportation; in India, intercity bus travel costs are estimated to be in excess of $35.5 billion.
India has an enormous bus industry. India is one of the top 10 countries in the world for buses. According to statistics, India sells around 30,000 autos each year.
Vogo, CTO and co-founder of Chalo, discussed its future objectives and how this purchase will help it realize them. Now that there is an accessible alternative to daily door-to-door rides for bus riders to reach bus stations easily and reliably will increase usage which in turn contributes to our goal of providing transportation as a dependable means.