EV-startup BikeWo has acquired the Munim app to boost its strong presence across the country. Munim shall provide exclusive technology and scale-up support to BikeWo in the near future.
Hyderabad-based BikeWo, an Indian EV two-wheeler smart hub network, has announced the acquisition of the Bengaluru-based staff management and business intelligence platform Munim app. This is a cash-and-stock-based acquisition deal. As part of the deal, Munim will continue to operate independently, but shall simultaneously provide exclusive technology and scale-up support to BikeWo in the near future.
According to them, this move is strategically-oriented and is expected to be highly beneficial in fortifying the business operations of both the start-ups over the long term. With this acquisition, Bikewo has absorbed the workforce and intellectual properties of the Munim app into its fold. Moreover, the founders of the Munim app will be handling BikeWo’s technology arm and shall be placed on its Board of Advisors too.
In addition, BikeWo is looking to leverage the Munim app’s technological expertise to build and nurture internal and external digital processes and systems. The company believes that this will help them to grow exponentially and pave the way towards their strong presence across the country. Speaking on the development, Vidhyasagar Reddy, Co-Founder & Chief Operating Officer, BikeWo said, “The decision to acquire Munim App was taken by us keeping in mind that we at BikeWo foresee a huge scope in the years to come to digitize our staff -related data and to expand our presence across India. ”
He further added, “We believe the Munim team’s cutting-edge expertise in technology and digitalization will enable us to remotely optimally manage BikeWo’s staff attendance, salary disbursal, and workforce management, among other aspects in the near future. Since we at BikeWo have ambitious plans to grow by introducing many pan-India dealerships by 2025, having an in-house technology partner like the Munim app will allow us to be able to take on larger operations and transactions with more ease, convenience, and efficiency. ”
“We are delighted to be a part of the future electric mobility revolution with BikeWo through this strategic acquisition. Over the next one year, the Munim App team will work dedicated to strengthening the back-end technology and digital interactions at BikeWo. Thereafter, BikeWo and Munim will be working together to expand our tech-enabled, digital-first offerings to many other stakeholders across the Indian EV market, including OEMs, automobile dealers, and so on, ”added Anupam Shah, Founder, Munim App.