Unlike last year, bus aggregation space has seen a lot of positive activities in 2018. Apart from raising million dollars, several acquisitions also took place during the same period.
To increase its footprint in Pune and Mumbai, bus shuttle platform ZipGo has acquired 100 per cent stake in Pune-based Supreme Trans Concepts. Following the acquisition, Prashant Mohite, CEO of Supreme Trans Concepts will continue to serve his current position in the intra-city bus provider.
ZipGo will leverage its first ever acquisition to launch bus service on Mumbai-Pune route. The startup already operates inter-city bus service between Delhi-Jaipur and Bengaluru-Hyderabad.
According to ZipGo COO, Pritesh Gupta, the company sees the combined entity as the largest app-based B2C bus aggregation startup in India with respect to cities, fleet size, employees, rides per day, and revenues.
Supreme Trans Concepts, which operates under MetroZip and CityZip, has a fleet of 270 buses. According to the press statement, Supreme Trans Concepts currently provides intra-city bus services to commuters IT parks such as Hinjewadi and Magarpatta. The company claims to have served over 23,000 customers on daily basis.
On the other hand, ZipGo is available in metros such as Delhi, Bengaluru, Mumbai, and Hyderabad. It operates in B2C as well as B2B segment, where it provides transport facility to corporates.
In August, it had scooped up around $44 million Series B round from Essel Infra.
The startup’s close rival Shuttl also raised $11 million in Series B round led by Amazon India, Amazon Alexa Fund and Dentsu Ventures. Besides, the Sequoia Capital-backed startup recently raised $1 million debt fund and acquired customers and driver partners of its rival Commut in September.