Bangalore-based Munim App acquired by BikeWo to expand its presence across India
In a cash-and-stock strategic purchase, Hyderabad-based BikeWo, a futuristic company that works at many levels to serve EV consumers across India, announced the acquisition of Bengaluru-based staff management and business intelligence platform Munim App. Munim will continue to operate independently following the acquisition but will give exclusive technology and scale-up assistance to BikeWo in the near future, according to a statement released by BikeWo. The move is strategic, and it is believed to be extremely advantageous in strengthening both start-ups’ company operations in the long run. Bikewo has also taken over Munim App’s employees and intellectual property as part of this transaction.
Munim App’s technical arm will be handled by the company’s founders, who will also be appointed to BikeWo’s Board of Advisors, while the Munim App team’s organizational structure will stay unchanged. BikeWo also plans to use the App’s technology capabilities to develop and nurture internal and external digital processes and systems that will help them grow exponentially and pave the road for a significant national presence.
Speaking on the development, Vidhyasagar Reddy, Co-Founder & Chief Operating Officer, BikeWo said, “The decision to acquire Munim App was taken while keeping in mind that we at BikeWo foresee a huge scope in the years to come to digitise our staff-related data and to expand our presence across India”.
“Since BikeWo has ambitious plans to grow by introducing many dealerships pan-India by 2025, having an in-house technology partner like Munim app will allow us to be able to take on larger operations and transactions with more ease, convenience, and efficiency,” he added.
“Over the next one year, the Munim App team will work dedicated to strengthening the back-end technology and digital interactions at BikeWo. Both 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,” said Anupam Shah, Founder, Munim App.
