Oct 30: Bus aggregator ZipGo Technologies Pvt Ltd has acquired Supreme Trans Concepts Pvt Ltd. With the acquisition, the company aims to expand its services in Mumbai. It is also set to enter the Pune market. Supreme Trans Concept has stated that the company Chief Executive Officer, Prashant Mohite will remain in his position.
Supreme Trans Concept has a fleet of 270 deluxe and air-conditioned buses. It offers intra-city services between Hinjewadi and Magarpatta. Services offered in other routes are under the MetroZip and CityZip. The daily passenger count of the company with revenue Rs 42 crore ranges to 23,000.
According to reports, the company, to increase the productivity, will operate as a single brand, move from MetroZip to ZipGo technology platform and the work-related functions will be centralized. The news regarding the additional cost post the acquisition will come out in the coming months. The company can now speed up its works on bringing out electric buses.
According to Pritesh Gupta, the chief operating officer of ZipGo, the acquired company is the leading bus aggregator in Pune but ZipGo is not and thus the acquisition will help the company makes a move in the Pune market. He went on to say that in order to give an advanced customer experience and increase ridership in Pune the company will integrate ZipGo technology platform in the city.
Like the cab aggregators, Uber and Ola, through its app the company also allow the users to reserve seats for themselves in the bus. From investors including Essel Group, Orios Venture Partners, Omidyar and Ventureast the company raised a fund of around $55 million. Earlier this year the company raised an amount of Rs 300 crore from Essel Group.