Hyderabad-based BikeWo, an electric vehicle (two-wheeler) charger smart hub network, acquired Bengaluru-based staff management and business intelligence platform Munim App in a cash-and-stock based deal.
Following this acquisition, Munim will continue to operate independently but shall simultaneously provide exclusive technology and scale-up support to BikeWo shortly. 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. Moving forward, the founders of Munim App will be handling its technology arm and shall be placed on the Board of Advisors of BikeWo. At the same time, the organizational structure of the Munim App team remains the same.
BikeWo will use Munim App to nurture digital processes
BikeWo is looking to leverage Munim App’s technological expertise to build and facilitate internal and external digital processes and systems that will help it establish a strong presence across the nation.
“We believe the Munim team’s cutting-edge expertise in technology and digitalization will enable us to remotely optimally manage BikeWo’s staff attendance, salary disbursal, and workforce management, among other aspects soon,” said Vidhyasagar Reddy, Co-Founder and Chief Operating Officer, BikeWo.
“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,” added Vidhyasagar Reddy.
This startup is building EV battery swapping and charging points infrastructure, thereby paving the path for increased adoption of electric 2-wheelers across India. It is also filling the gaps for electric bike servicing and repairs.
The company aims to have a vast countrywide network of EV charging points pan-India by 2025. The government itself is doing its bit by rolling out a battery swapping policy. In general, having conveniently located EV charging stations will further speed up the adoption of electric vehicles in the country.
Anupam Shah, Founder, Munim App, said, “Over the next one year, the Munim App team will work dedicated to strengthening the back-end technology and digital interactions at BikeWo. After that, 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.”