Nasdaq-listed MakeMyTrip has acquired a majority stake in Quick Ride, a Bengaluru-based ride-pooling platform, for an undisclosed amount. The company announced the deal on Friday, saying it establishes a presence in ride pooling that complements its existing ground transportation portfolio.
The transaction is structured through a new entity. Quick Ride’s brand and ride-pooling business were transferred into a newly formed company, Co Ride Mobility Private Limited, in which MakeMyTrip has taken the majority stake. Quick Ride’s promoters will continue to lead the business. The platform’s former electric vehicle taxi business is not part of the deal and remains with the predecessor entity, iDisha Info Labs Private Limited.
Quick Ride, founded by KNM Rao, runs an asset-light platform that matches commuters travelling along similar routes for shared car and bike pooling, and sells through partnerships with corporates, IT parks and business campuses. It previously raised investment from Sequoia Capital India, now Peak XV Partners, Naspers and Venture Highway.
Group chief executive Rajesh Magow said Quick Ride will sit inside the group’s ground transport business, drawing on the experience of building redBus in India and overseas. The acquisition extends MakeMyTrip’s run of adjacent purchases, following Savaari in car rentals, Happay in corporate travel and expense management, and Flamingo Transworld in regional group holidays. No integration timetable, user figures or financial terms were disclosed.