Hyderabad based BikeWo, an EV two-wheeler smart hub networks in India, has announced the acquisition of Bengaluru based staff management and business intelligence platform Munim App in a cash and stock based strategic acquisition deal. Following this acquisition, Munim will continue to operate independently, but shall simultaneously provide exclusive technology and scaleup support to BikeWo in the near future. The move is strategically-oriented and is expected to be highly beneficial in fortifying the business operations of both the startups over the long term.
With this acquisition, Bikewo has also absorbed the workforce and intellectual properties of Munim App into its fold. Going forward, the founders of Munim App will be handling its technology arm and shall be placed on the Board of Advisors of BikeWo, while the organisational structure of the Munim App team remains the same. Additionally, BikeWo is looking to leverage Munim App’s technological expertise to build and nurture internal and external digital processes and systems that will help them to grow exponentially and pave the way towards their strong presence across the nation.
Speaking on the development, Vidhyasagar Reddy, Co-Founder and 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 digitise our staff-related data and to expand our presence across India. We believe the Munim team’s cutting-edge expertise in technology and digitalisation 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 dealerships pan-India 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.