Hyderabad-based BikeWo acquires Munim App
Following this acquisition, Munim will continue to operate independently, but will simultaneously provide exclusive technology and scale-up support to BikeWo soon.
Hyderabad: Hyderabad-based BikeWo, an EV two-wheeler smart hub network, acquired Bengaluru-based staff management and business intelligence platform Munim App in an undisclosed cash-and-stock based strategic acquisition deal.
Following this acquisition, Munim will continue to operate independently, but will simultaneously provide exclusive technology and scale-up support to BikeWo soon. Bikewo has also absorbed the workforce and intellectual property of Munim App. The founders of Munim App will be handling its technology arm and will be placed on the Board of Advisors of BikeWo, while the organisational structure of the Munim App team remains the same.
Speaking on the acquisition, Vidhyasagar Reddy, co-founder & COO, BikeWo said, “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.”
“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.
Through its franchise model, BikeWo plans to expand to over 2,000 dealerships pan-India by 2025. It is solving critical issues and gaps in the burgeoning EV ecosystem by laying the infrastructure for EV battery swapping and charging points, to help increase adoption of electric 2-wheelers. Recently, Tollywood actor and producer Venkatesh Daggubati joined BikeWo as a strategic investor and brand ambassador.
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