We missed this earlier.
Online travel agency Yatra has acquired auto rickshaw hailing app mGaadi, the company announced on its blog. Although the terms of the deal were not disclosed, mGaadi informed that they signed a definitive agreement to be acquired by Yatra on June 10.
The company stated that its products Cartr and related mGaadi technologies will be integrated into Yatra’s products as part of the agreement.
mGaadi said that it developed Cartr as a part of its pivot last year to fleet management. The product focuses on managing fleets of Boda Bodas (loacl bike taxis in Africa) and tuk tuks and has customers in East Africa and South Asia.
mGaadi is a Bangalore-based commuting service founded in 2012. Users can request mGaadi autos through its Android, iOS and Windows Phone apps or mgaadi.com. It is operated by Drivers Network, a social enterprise, and claims to have more than 13,000 drivers as part of its network.
It’s worth noting that in March last year, mGaadi signed up with Bangalore police to revive the prepaid autorickshaw system. It ran prepaid stands in 18 areas as a pilot for 12 months. The rides in autos would have details which include the fare, distance, destination and a receipt at the end of the trip. Passengers would also get to rate the drivers via SMS.
Funding: In May 2014, mGaadi had raised seed stage funding from Unitus. It had informed that it would use the seed fund to develop its network of auto drivers, to enhance its technology platform, and to expand its operations in Bangalore and other Indian metros.
In April 2014, Yatra had raised Rs 140 crore in funding from IDG Ventures India and Vertex Venture Holdings, with participation from existing investors. It had stated then it would use the funds for branding, expanding its hotels bookings business and improving its mobile offering.
For the year 2013-14, Yatra’s losses declined to Rs 40.2 crore and revenues of Rs 189.6 crore compared to Rs 77.4 crore and revenues of Rs 162.4 crore last year.
In April, Yatra had informed that it will be aggregating cabs from online cab aggregators Ola and Uber on its mobile app.
In January, Yatra had acqui-hired Travel-logs, a trip planning startup for an undisclosed amount. It had also informed that post acquisition, Travel-logs founder Dhiresh Sharma will join Yatra.com as head of a new segment called Metro X. The segment, like Cleartrip’s Activities, will let users book certain theme-specific activities or events in a city.
August last year, Yatra had partnered with FINO paytech to let users book Yatra tickets through FINO Money centres.