Online travel platform EaseMyTrip on Thursday said it is acquiring YoloBus, a next-generation premium intercity mobility platform, for an undisclosed amount to expand its non-air business.
The acquisition includes the brand name of YoloBus, its technology, team, running business and data expertise, the company said in a statement.
EaseMyTrip will leverage YoloBus’ full-stack technology-enabled platform to offer an enhanced and superior bus travel experience with safe, clean, comfortable and connected buses for seamless intercity travel, it added.
Commenting on the acquisition, EaseMyTrip co-founder Rikant Pittie said, “Tech-enabled bus mobility is the future, and we are expecting to witness a phenomenal growth in the coming period”.
Stating that YoloBus has carved a niche for itself in the mobility sector, he said, “We are confident that its tech-backed mobility solutions will be a huge draw for travellers and will further strengthen EaseMyTrip’s position in the segment”.
Last year, YoloBus had raised Series-A funding, at a valuation of Rs 84 crore, from marquee investors like Nexus Venture Partners and India Quotient.
It runs on a mobility template taking care of the operational side of the business, including scheduling of buses, ticketing, customer service, and network planning. Over three lakh customers have travelled using its platform across 250 plus routes, connecting major tier-I cities to tier II and III cities.