Careem, the leading tech platform
for the greater Middle East, has acquired Commut, the Hyderabad based mass
transportation app for an undisclosed amount. The deal secures the talent and
superior technology of Commut, which will be integrated wholly into Careem, and
will accelerate Careem expansion into mass transportation through the addition
of bus services across its 100 cities.
Founded by six IIT Hyderabad
graduates Commut is a tech-driven bus shuttle service that has been operational
in Hyderabad since November 2015. Since inception, they have served 750,000
trips within 100+ existing routes in Hyderabad. Backed by UK-Based
Shell-Foundation and 50K Ventures, Commut served over 70,000 customers and
onboarded 400 driver-partners. Commut local operations including its customers
and driver-partners have now been taken over by Shuttl - a shuttle service
provider in India.
As Careem continues to expand
across its technology platform, the business will continue to acquire and
invest in high impact, relevant and value-driven technology businesses and
start-ups that can accelerate growth for Careem and can solve complex problems
in the greater Middle East region.
Careem
is a pioneer in the region’s ‘sharing economy’ – it’s mission is to simplify
and improve the lives of people and build a lasting institution that inspires.
Established in July 2012, Careem is the region’s only unicorn, operating in
more than 100 cities across 14 countries.
