Nasdaq-listed traveltech major MakeMyTrip has expanded into the carpooling segment via the acquisition of a majority stake in Bengaluru-based Quick Ride for an undisclosed amount.

In a statement, MakeMyTrip said that the acquisition will allow it “to establish a presence in the ride pooling segment, which is complementary to the group’s existing ground transportation portfolio.”

As part of the transaction, Quick Ride’s brand and ride-pooling business have been transferred to a newly formed entity, Co Ride Mobility Private Limited, in which MakeMyTrip has acquired a majority stake. Quick Ride’s promoters will continue to lead the business.

However, Quick Ride’s erstwhile electric vehicle (EV) taxi business will remain with its predecessor entity, iDisha Info Labs Pvt Ltd.

Founded in 2014 by KNM Rao, Quick Ride offers a ride-sharing application that connects passengers to riders. It connects the commuters travelling in the same direction.

It also offers an enterprise solution for shared mobility and counts IT companies such as Wipro, TCS, Infosys, IBM and Cognizant, among others as its clients. Its services are available in Bengaluru, Hyderabad, Chennai, Pune, Kochi, Delhi NCR, Mumbai, and Kolkata.

The startup has raised over $14 Mn from investors like Sequoia, Prosus and Venture Highway. Sequoia exited the startup in 2021. 

The Quick Ride acquisition is part of MakeMyTrip’s broader strategy to expand its presence across adjacent travel and mobility segments through strategic investments and acquisitions.

Commenting on the acquisition, MakeMyTrip group CEO Rajesh Magow said that the investment would help the company establish a presence in daily intra-city commutes while strengthening its intercity travel offerings.

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