Indian startup Chalo, which is working to transform bus commutes, has raised $45 million in a new funding round and secured an additional $12 million in debt as it works on deepening its mobility offerings and launches in more international markets.
The Series D funding round was led by Avataar Ventures. Existing investors Lightrock India, WaterBridge Ventures and former Google executive Amit Singhal also participated in the funding. Trifecta and Stride Ventures financed the debt. This injection of capital brings Chalo’s cumulative fundraise to $119 million.
Mohit Dubey, the brain behind Chalo, previously founded CarWale, an online platform for trading new and used vehicles. After a decade at CarWale, Dubey realized that his startup — and many other similar firms — served a mere 3% of India’s population, he told TechCru …
