With this acquisition, Bikewo has absorbed the workforce and intellectual properties of Munim App into its fold.
“Following this acquisition, Munim will continue to operate independently, but shall simultaneously provide exclusive technology and scale-up support to BikeWo in the near future. The move is expected to be highly beneficial in fortifying the business operations of both the start-ups over the long term,” the company said in a statement.
With this acquisition, Bikewo has absorbed the workforce and intellectual properties of Munim App into its fold. The founders of Munim App will handle its technology arm and shall be placed on the Board of Advisors of BikeWo, while the organizational structure of the Munim App team remains the same.
“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,” said Vidhyasagar Reddy, Co-Founder & Chief Operating Officer, BikeWo.
BikeWo is an EV startup that plans to use franchise model to expand the number of its dealerships to 2,000 across India by 2025. The company lays the infrastructure for EV battery swapping and charging points.
