Lithium Urban acquires SmartCommute1 min read . Updated: 26 May 2021, 07:07 PM IST
With the new acquisition Lithium Urban will become a full-stack transportation solutions provider, the company said in a statement.
Electric vehicles fleet operator Lithium Urban Technologies on Wednesday said it has acquired SmartCommute, an end-to-end employee transport services platform.
The acquisition value was however not disclosed by the company.
With the acquisition of SmartCommute, which was founded in 2014 and served in employee transportation services for corporates, Lithium Urban will become a full-stack transportation solutions provider, the company said in a statement.
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SmartCommute comes with a demonstrated expertise in high-end tech-enabled solutions for smart rostering and AI-enabled routing that can considerably optimise operations and costs for clients, Lithium Urban Technologies Founder Sanjay Krishnan said.
"With this acquisition, we aim to expand our presence in the larger transportation and mobility ecosystem and provide full-stack services, going beyond sustainable corporate mobility solutions.
"We are aiming to help clients seamlessly transition from ICE (internal combustion engine) to electric vehicles given the tight integration that this platform will provide, with EVs and charging station telematics, and scheduling algorithms," he added.
Before the outbreak of the pandemic, around 30,000 employees in over 3,000 vehicles, across Bengaluru, Mumbai, Pune, Kolkata, New Delhi and Hyderabad were commuting on a daily basis through the SmartCommute platform, the statement said.
SmartCommute's client portfolio included Capgemini, L&T Infotech, KPIT and TCS, among others, it added.
SmartCommute Co-Founder Ajit Patil said employee transportation is a multi-billion dollar market in India and Lithium powered with SmartCommute technology will be in a formidable position to become a leader in this market.
With the integration of SmartCommute platform, Lithium Urban Technologies said it "will now be equipped to expand further into the potential rich transportation segments including freight and rapid bus transit among others."
Further, the company will also cater to both electric and non-electric vehicles, making it a one-stop-solution for smart transportation services across different form factors for its client portfolio, it added.
This story has been published from a wire agency feed without modifications to the text.