Travel technology company MakeMyTrip has acquired a majority stake in Bengaluru-based shared mobility startup Quick Ride, marking its entry into India's ride pooling segment. The acquisition represents an important step in the company's efforts to expand its ground transportation services beyond intercity travel and tap into the growing demand for daily urban commuting solutions.
Through this move, MakeMyTrip aims to strengthen its presence in the mobility sector by connecting everyday commuters with people travelling along similar routes. The development also highlights the growing interest of established travel companies in shared transportation services.
The financial details of the acquisition have not been disclosed.
The acquisition has been completed through a newly established entity called Co Ride Mobility Private Limited, which will manage Quick Ride's ride pooling business and brand.
Earlier, on October 19, Entrackr reported that MakeMyTrip was exploring the possibility of acquiring Quick Ride through its subsidiary redBus. The transaction has now been completed, with MakeMyTrip securing a majority stake in the newly established entity.
As part of the restructuring, Quick Ride's existing promoters will continue to oversee the business operations. However, the company's earlier electric vehicle (EV) taxi operations will remain with its previous legal entity, iDisha Info Labs Private Limited.
This arrangement separates the ride pooling business from the earlier EV taxi operations while allowing MakeMyTrip to focus on expanding its shared mobility services.
Founded in 2015 by KNM Rao, Quick Ride is a shared mobility platform that connects commuters travelling along similar routes. It facilitates carpooling and bike pooling, allowing people to share available vehicle space for their daily journeys.
The platform primarily serves two categories of customers:
Individual commuters: People can connect with other travellers heading in the same direction and share their daily transportation.
Corporate employees: The platform works with companies, IT parks and business campuses to support employees travelling to and from their workplaces.
Quick Ride follows an asset-light business model, meaning it connects users through its technology platform rather than depending entirely on owning and operating a fleet of vehicles.
Its approach is designed to make everyday commuting more affordable, improve vehicle utilisation and potentially reduce the number of individual vehicles travelling on busy city roads.
The acquisition will allow MakeMyTrip to enter the high-frequency urban commuting market, adding another category to its existing transportation services.
Until now, the company's ground transportation portfolio has primarily focused on intercity journeys through platforms such as redBus and Savaari. Quick Ride will help it extend its services to shorter, more frequent journeys within cities.
Commenting on the development, Rajesh Magow, Co-founder and Group CEO of MakeMyTrip, said the acquisition would help the company establish a presence in the daily commuting segment alongside its existing intercity travel business.
He also highlighted the company's intention to use its experience in developing redBus across Indian and international markets to expand Quick Ride's reach.
This strategy could help MakeMyTrip connect different stages of a traveller's journey, from everyday office transportation to longer-distance travel between cities.
Prakash Sangam, CEO of redBus and Head of Ground Transport at MakeMyTrip, said the acquisition would help the company address a wider range of customer transportation requirements.
The addition of Quick Ride will enable MakeMyTrip to serve customers looking for everyday commuting options as well as those planning intercity journeys.
The move also creates an opportunity to explore how the company's existing technology, customer base and transportation expertise can support the growth of shared mobility services.
Before the acquisition, Quick Ride had attracted investments from several established investors in the startup ecosystem.
Its previous investors included:
Sequoia Capital India, now known as Peak XV Partners.
Naspers, now part of Prosus.
Venture Highway.
In 2019, Quick Ride raised approximately Rs 100.78 crore (around $14.4 million) through a Series B funding round backed by existing investors.
The funding supported the company's efforts to develop its shared commuting platform and expand its presence in the mobility market.
The Quick Ride acquisition is part of MakeMyTrip's broader strategy of expanding its travel and transportation ecosystem through acquisitions and strategic investments.
Over the years, the company has added several businesses to strengthen its service portfolio.
Some of its notable acquisitions and investments include:
Savaari: A car rental platform that expanded MakeMyTrip's presence in the intercity and outstation transportation segment.
Happay: A corporate travel and expense management company that strengthened its business travel offerings.
Flamingo Transworld: A regional holiday package provider that expanded its holiday and travel services.
Atlys: A visa processing platform in which MakeMyTrip made a minority investment.
The addition of Quick Ride further diversifies the company's transportation offerings by introducing ride pooling and daily urban commuting services.
The acquisition reflects the increasing importance of shared transportation solutions in India's urban mobility landscape. As cities experience growing traffic congestion and demand for affordable commuting options, platforms that connect people travelling along similar routes could become increasingly relevant.
Quick Ride's technology-based model offers an alternative to individual vehicle usage by encouraging commuters to share available seats and reduce unnecessary trips.
For MakeMyTrip, the acquisition provides an opportunity to participate in a segment that serves customers more frequently than traditional holiday and intercity travel services.
However, the long-term success of this expansion will depend on factors such as user adoption, operational efficiency, city-level demand, platform reliability and the ability to maintain a convenient commuting experience.
By bringing Quick Ride into its ground transportation portfolio, MakeMyTrip is expanding its focus from occasional travel bookings to everyday mobility requirements. The acquisition could help the company build a broader transportation ecosystem covering both short-distance urban commutes and long-distance journeys.