Online travel platform EaseMyTrip said Thursday that it is acquiring YoloBus, a next-generation premium intercity mobility platform, for an undisclosed sum to expand its non-air business.
The acquisition includes YoloBus’ brand name, its technology, team, running business and data expertise, the company said in a statement.
EaseMyTrip leverages YoloBus’ full-stack technology-enabled platform to deliver an enhanced and superior bus travel experience with safe, clean, comfortable and connected buses for seamless intercity travel, it added.
Commenting on the acquisition, Rikant Pittie, co-founder of EaseMyTrip said: “Tech-enabled bus mobility is the future and we expect phenomenal growth over the coming period”.
He stated that YoloBus has carved out a niche for itself in the mobility sector, saying: “We are confident that its technology-enabled mobility solutions will have a huge appeal to travelers and further strengthen EaseMyTrip’s position in the segment”.
Last year, YoloBus had raised Series-A financing, at a valuation of Rs 84 crore, from major investors such as Nexus Venture Partners and India Quotient.
It runs on a mobility template that takes care of the operational side of the business, including bus scheduling, ticketing, customer service and network scheduling. More than three lakh customers have traveled more than 250 routes using the platform, connecting major tier I cities with tier II and III cities.