Total amount raised
$150M
Latest funding date
2025-05-30
Location
Chalo has raised at least $125.1 million across multiple funding rounds, backed by investors including Avataar Venture Partners, Lightrock India, Filter Capital, WaterBridge Ventures, and The Raine Group.
Keep reading to explore Chalo's complete fundraising journey and the investors powering its mission.
What Is Chalo?
Chalo is an Indian public transport technology company that develops a bus tracking and ticketing application delivering real-time transit information such as live bus tracking, arrival times, and digital ticketing. Founded in 2014 by Mohit Dubey, Vinayak Bhavnani, and Priya Singh, Chalo is headquartered in Navi Mumbai, India, and operates across more than 100 cities.
How Much Funding Has Chalo Raised?
- Seed Round (May 2018)
- Amount Raised: Undisclosed
- Date: May 2018
- Lead Investors: Undisclosed
- Seed Round (January 2019)
- Amount Raised: Undisclosed
- Date: January 2019
- Lead Investors: WaterBridge Ventures (first institutional seed round)
- Participating Investors: AdvantEdge, Trifecta Capital Advisors
- Series Unknown (January 2021)
- Amount Raised: USD 7,000,000
- Date: January 13, 2021
- Lead Investors: Raine Ventures
- Participating Investors: Neeraj Arora (former CBO, WhatsApp), Amit Singhal (former SVP, Google), family offices of Saket Burman (Dabur) and Tarun Sawhney (Triveni Group)
- Series C (October 2021)
- Amount Raised: USD 40,000,000
- Date: October 5, 2021
- Lead Investors: Lightrock India, Filter Capital
- Participating Investors: WaterBridge Ventures, Raine Venture Partners, Neeraj Arora, Amit Singhal
- Series Unknown (April 2022)
- Amount Raised: USD 13,890,000
- Date: April 23, 2022
- Lead Investors: Lightrock India
- Participating Investors: Kalaari Capital, Matrix Venture Partners
- Series D — Tranche 1 (April 2023)
- Amount Raised: USD 26,250,000
- Date: April 24, 2023
- Lead Investors: Avataar Venture Partners
- Participating Investors: Undisclosed
- Series D — Tranche 2 (May 2023)
- Amount Raised: USD 45,000,000
- Date: May 22, 2023
- Lead Investors: Avataar Venture Partners
- Participating Investors: Lightrock India, WaterBridge Ventures, Amit Singhal
- Debt Financing (May 2023)
- Amount Raised: USD 12,000,000
- Date: May 22, 2023
- Lead Investors: Undisclosed
- Participating Investors: Trifecta Capital, Stride Ventures
- Series Unknown — Equity & Debt (May 2025)
- Amount Raised: INR 52.5 Cr (~USD 6,100,000) — comprising INR 32.5 Cr equity and INR 20 Cr debt
- Date: May 30, 2025
- Lead Investors: Undisclosed
- Participating Investors (Equity): Filter Capital India Fund I, MGB Resources, cofounders Mohit Dubey, Priya Singh, Vinayak Bhavnani
- Participating Investors (Debt): BlackSoil Capital, Caspian Impact Investments
Total Amount Raised: At least $150.2M based on disclosed funding (includes $7M, $40M, $13.89M, $26.25M, $45M, $12M equity/debt rounds, plus ~$6.1M in the May 2025 round; earlier seed rounds were undisclosed).
Key Investors
- Avataar Venture Partners
- Details: Avataar Venture Partners led Chalo's Series D rounds in April and May 2023, driving the company's valuation to $400–$450 million.
- Lightrock India
- Details: Lightrock India co-led the Series C in October 2021 and also led the April 2022 round, and has participated in the Series D. Lightrock is a global impact investment firm.
- Filter Capital
- Details: Filter Capital co-led the Series C in October 2021 and continued as an investor in the May 2025 round. Filter Capital is an India-focused asset management firm.
- WaterBridge Ventures
- Details: WaterBridge Ventures led Chalo's first institutional seed round in 2019 and participated through to the Series D in 2023. It is an India-based venture capital firm.
- Raine Ventures
- Details: Raine Ventures, the early-stage fund of The Raine Group, led the January 2021 round and participated in the Series C. It is a US-based global merchant bank focused on technology and media.
- BlackSoil Capital & Caspian Impact Investments
- Details: Both firms provided the INR 20 Cr debt component of the May 2025 round, continuing their role as debt financiers to Chalo.
What's Next for Chalo?
Chalo is positioned to continue its expansion across Indian cities and potentially into international markets. With a strong investor base and a growing platform for digital bus commuting, the company is focused on scaling its technology, deepening its operational presence, and improving the experience for millions of daily commuters.
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