Online travel platform MakeMyTrip has acquired a majority stake in Bengaluru-based shared mobility startup Quick Ride, marking its entry into the ride-pooling segment and expanding its ground transportation business beyond intercity travel.
The acquisition will allow MakeMyTrip to enter the daily urban commuting market, adding carpooling and bike-pooling services to its existing travel offerings. Financial details of the transaction have not been disclosed.
Founded in 2015 by KNM Rao, Quick Ride operates an asset-light mobility platform that connects commuters travelling along similar routes. Its services are primarily used for daily office travel, with the company also working with corporate organisations, IT parks and business campuses.
As part of the transaction, Quick Ride's ride-pooling operations and brand have been transferred to a newly structured entity, Co Ride Mobility Private Limited.
MakeMyTrip has acquired a majority stake in this entity, while Quick Ride's existing promoters will continue to manage the business.
The company's former electric vehicle taxi operations will remain with its predecessor entity, iDisha Info Labs Private Limited, and are not part of the acquired ride-pooling business.
Commenting on the acquisition, Rajesh Magow, Co-founder and Group CEO of MakeMyTrip, said the transaction would enable the company to expand into high-frequency daily commutes within cities.
He added that Quick Ride would operate under MakeMyTrip's ground transportation business, drawing on the company's experience in developing and scaling redBus across India and international markets.
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 travel requirements.
The integration is expected to allow MakeMyTrip to serve customers across different stages of their travel journeys, including daily office commutes, intercity bus travel and other ground transportation requirements.
Quick Ride has previously received investments from Sequoia Capital India, now known as Peak XV Partners, Naspers and Venture Highway.
In 2019, the startup raised approximately ₹100.78 crore, equivalent to $14.4 million at the time, in a Series B funding round involving existing investors.
The latest transaction follows MakeMyTrip's investments and acquisitions across several travel-related businesses.
The company previously acquired Savaari to expand its car rental operations, Happay for corporate travel and expense management, and Flamingo Transworld in the group holiday segment.
It has also made a minority investment in visa processing platform Atlys.
With Quick Ride joining its portfolio, MakeMyTrip will have a presence in ride pooling alongside its existing redBus and Savaari operations.
The acquisition extends the company's ground transportation services into a segment focused on recurring urban travel rather than primarily occasional or long-distance journeys.
MakeMyTrip has not disclosed its ownership percentage in Co Ride Mobility, the transaction value or a timeline for integrating Quick Ride's services with its existing platforms.
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