Rapido acqui-hires Mumbai-based analytics startup Vahanalytics

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Rapido, a Bengaluru-based bike taxi service provider has taken control of Vahanalytics, a Mumbai-based analytics startup.

Rapido has allotted 55 equity shares for around ₹49 lakhs to Vahanalytics and another 38 Series A3 CCPS for around ₹34 lakhs to CBP Quilvest Trust, which is a Singapore-based investment group.

While, post acquisition, two co-founders of Vahanalytics will join Rapido as its employees, with a contract of two years. Both the cofounders will also receive ESOPs values at INR 37 Lakhs and INR 25 Lakhs, respectively.

Rapido was founded by Rishikesh SRPavan Guntupalli and Aravnind Sanka in 2015. The company has currently 10,000 active drivers, including women.

Anyone with a two-wheeler license, a bike, a vehicle registration certificate, and bike insurance can register themselves as a Rapido Captain.

Vahanalytics, on the other hand, was founded by Shivalik Sen, Arun Gandhi, Nikhil Tavora and Someshwar Dash in 2016. It aims to address the global problem of on-road transportation efficiency, on a local scale and make drivers and roads better through smarter data and machine learning.

The Mumbai-based company also claims to have built a product that can seamlessly collect information on key driver metrics and identify bad drivers from the good through scientific analysis.

The platform claims to capture real time data about driving habits and road conditions using smartphones, which is then processed and refined by leveraging the power of big data in order to extract useful insights.

Some of the significant players in the similar category includes UberMOTOOlaVogoGoJek and many more.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

R&D centre for clean coal unveiled in Bengaluru

Bengaluru, Sep 16 (IANS) Union Minister of Science and Technology Harsh Vardhan on Monday opened the national centre for...

RBI expands BBPS coverage to all categories

Mumbai, Sep 16 (IANS) The Reserve Bank of India on Monday expanded the Bharat Bill Payment System coverage to included all categories of billers,...

Wanted criminal held in Narela murder case

New Delhi, Sep 16 (IANS) With the arrest of 25-year-old history-sheeter, the Delhi Police claimed to have solved the Virender Maan murder case, who...

GM, TCS launch partnership for global vehicle engineering

New Delhi, Sep 16 (IANS) Automobile manufacturer General Motors and IT major Tata Consultancy Services on Monday entered into a partnership for future global...

Italy resuming a central role in Europe: EU Commissioner

Rome, Sep 16 (IANS/AKI) With its new left-leaning government, Italy, a founder member of the European Union, and the eurozone's third largest economy, is...
- Advertisement -

More Articles Like This