New Delhi:Online travel services platform MakeMyTrip today announced that it has acquired a majority stake in ‘Quick Ride’, a technology-led shared mobility platform. The deal value was not disclosed.

MakeMyTrip said the acquisition provided an "opportunity to MakeMyTrip to establish a presence in the shared mobility / ride pooling segment, which is complementary to the group’s existing ground transportation portfolio."

The Bengaluru-based Quick Ride idescribes itself as an "technology-led, asset-light shared mobility platform". It basically offers a platform that connects people travelling along similar routes, enabling affordable ride pooling for everyday commutes. Users can opt for a pooled car or two-wheeler ride. It also offered an electric taxi service in Bengaluru.

Founded in 2015 by Ashalatha Kuchipudi, Vishal Lavti and Shobhana Sriram, Quick Ride has so far raised around $15.8 million in funding via multiple rounds. . By encouraging greater sharing of existing vehicles, the platform aims to make commuting. Before the MakeMyTrip acquisition, the founders together held 49.8 per cent stake in the company according to Tracxn data.

Quick Ride also has an enterprise-led go to market model, with partnerships across corporates, IT parks and business campuses. After an internal restructuring, the ‘Quick Ride’ brand and its ride pooling business are now housed under a new entity, Co Ride Mobility Private Limited. MakeMyTrip has acquired the Quick Ride brand and its ride pooling business with a majority stake in Co Ride Mobility.

Quick Ride’s promoters will continue to lead the business, a statement issued by MakeMyTrip said, adding that Quick Ride’s erstwhile EV taxi business will remain with the predecessor entity, iDisha Info Labs Private Limited.

Rajesh Magow, Co-Founder & Group Chief Executive Officer, MakeMyTrip, said, “As part of our expansion strategy, we have pursued selective strategic partnerships, investments and acquisitions that complement and strengthen our existing business and expand the breadth and depth of our offerings."

Magow added that the acquisition gives the travel platform a presence in both high-frequency daily commutes within cities, as well as intercity travel, via redBus, which it also owns.

Magow disclosed that Quick Ride will be housed under its ground transport business, and that MakeMyTrip will "bring the learnings from building redBus, both in India and in overseas markets, to grow and scale the business.”

During recent years, MakeMyTrip has expanded its capabilities through acquisitions across travel segments, including Savaari in car rental services, Happay in corporate travel and expense management, Flamingo Transworld in regional group holiday packages and through strategic minority investment in Atlys in visa processing.