ixigo acquires bus ticketing platform AbhiBus
Premium- ixigo had raised $53 million in a round led by Singapore’s sovereign fund GIC a week ago
New Delhi: Le Travenues Technology Limited that operates travel platform ixigo on Thursday announced that it has acquired Hyderabad-based bus ticketing and aggregation platform AbhiBus as covid-19 pandemic continues to disrupt the travel industry. The size of the deal has not been disclosed.
The slump sale includes a mix of cash and ixigo stock as consideration.
The development comes a week after ixigo raised $53 million in a round led by Singapore’s sovereign fund GIC.
“AbhiBus has built an innovative and high growth company with deep penetration on the supply side across state road transport companies (SRTCs) and private bus operators and on the demand side, as the dominant bus ticketing brand in several Indian states. By leveraging our combined user base, multi-modal transportation capabilities, tech resources and travel domain expertise we will be able to enhance the experience of millions of travellers in India every day," Aloke Bajpai and Rajnish Kumar, co-founders, ixigo said in a joint statement.
The Abhibus team, led by its founder Sudhakar Reddy Chirra, has joined the ixigo team, and all intellectual property, brands, technology and operations are being transferred to ixigo. This is ixigo’s second acquisition after it acquired train booking app Confirmtkt in February 2021.
Chirra, founder & CEO, AbhiBus said, “We are excited to be joining ixigo, whose team and products have created new benchmarks for the travel industry. We remain committed as a team towards our joint vision of serving the underserved market segment of the next billion travelers in the country, for whom trains and buses are the primary modes of transportation."
AbhiBus, established in 2008 by Chirra, provides end-to-end software and other value-added solutions such as e-ticketing systems, fleet management solutions, vehicle tracking systems, passenger information systems, logistics management. The company also provides technology solutions to private bus partners and state transport corporations in India. It has also partnered with IRCTC to offer bus tickets to IRCTC users.
Launched in 2007, ixigo is an AI-based travel app based in Gurugram, India. Offering train, flight and bus bookings across the ixigo, Confirmtkt and AbhiBus brands. Ixigo is backed by affiliates of Sequoia Capital and Elevation Capital among other investors.
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