Monday, May 27

Dubai-based Careem Buys Tech & Talent of Indian Bus-shuttle Platform

Dubai-based ride-hailing company Careem has acquired a part of Indian bus-shuttle service platform called Commut. The amount of the deal is yet not disclosed and with this, the company is looking to expand to mass transport across 100 cities.

Following the acquisition, Careem will take over Commut’s talent and technology. Founded in 2015 by six IIIT-Hyderabad graduates, Commut claims to have served over 70,000 customers and onboarded 400 driver-partners.

“We are always looking to invest in new technologies and high-calibre people to help solve complex local problems. And mass transportation is one of the biggest issues facing cities in the Greater Middle East,” Careem stated.

“Improving the quality and availability of mass transportation will help to create affordable transport options that can be a catalyst for moving cities forward” the company added.

Talking about Careem, the company operates in 14 countries, including Turkey and Pakistan. It said that they will move forward with acquisitions and investments in high impact, relevant and values driven technology businesses and startups that can accelerate growth.