BikeWo, a Hyderabad-based EV Startup has announced the acquisition of Munim App. Munim is a Bangalore-based employment management startup that tracks and manages your employees in your native language. The acquisition will be cash-and-stock-based. As a part of the deal, Munim shall continue its operations independently, however, simultaneously providing exclusive technology and scale-up support to BikeWo.
Being a strategic collaboration, both the start-ups expect to fortify the business operations in the long term. BikeWo has absorbed the workforce and IP of the Munim app as a part of this deal. On the flip side, Munim will be handling BikeWo’s technology arm and will acquire a spot on the Board of Advisors.
The Hyderabad-based startup intends to leverage Munim’s technology to strengthen its internal and external digital processes and systems. Munim began in 2020 by Anupam Shah. On the other hand, BikeWo began in 2021, the brainchild of Vidhaysagar Reddy.
Another EV Startup To Look At: Hyderabad-based EV Startup Atumobile launches Atum 1.0 offering a 100km range. – Start-Up Hyderabad (startuphyderabad.com)
Founder’s Take On The Deal
Speaking on the development, Vidhyasagar Reddy, Co-Founder & COO, BikeWo says, The decision to acquire Munim App is because we foresee a huge scope in the years to come to digitize our staff-related data and to expand our presence across India. Adding, he says, We believe the Munim team”s expertise in technology and digitalization will enable us to grow. Additionally, it will ensure optimal management of BikeWo”s staff attendance, salary disbursal, and workforce management in the near future. Since we have ambitious plans to grow, having an in-house technology partner like the Munim app will allow us to take on larger operations and transactions with more ease, convenience, and efficiency.
We are delighted to be a part of the future electric mobility revolution with BikeWo through this strategic acquisition. Over the next year, the Munim App team will work to strengthen the back-end technology and digital interactions at BikeWo. Thereafter, BikeWo and Munim will expand the tech-enabled, digital-first offerings to many other stakeholders across the Indian EV market. This will include OEMs, automobile dealers, and so on, added Anupam Shah, Founder, Munim App
