Today transporttech company Zeelo, announced the acquisition of UK-based Kura, a specialist in school transportation and transport safeguarding software.
The transaction terms are undisclosed. However, Zeelo recently announced a $14 million fundraising to further UK profitability and drive rapid expansion in the US.
Founded in the UK in 2010, Kura has developed the SaaS and TaaS (that's transport as a service) platform, providing enhanced safeguarding features designed to provide schools and colleges with safe, efficient and sustainable transportation programs.
It also provides employee shuttles and charter transport services for companies across the UK.
The combined businesses will have the largest virtual bus operation in the UK, with over 220 customers, 450 operator partners and 40,000 daily riders using the platform.
Sam Ryan, co-founder and CEO of Zeelo, said:
"After our recent $14 million fundraising announcement, I'm delighted to share the news of further growth through the acquisition of Kura. We were impressed with the world-class technology and the high-quality service delivery provided by the Kura team.
Their complimentary business model will further accelerate our profitability in the UK. This is the first of many M&A opportunities to play an important role in our growth strategy as we continue to scale in the UK and US markets."
Godfrey Ryan, CEO of Kura, said:
"This is a fantastic outcome for the Kura team, and we're delighted to join forces with Sam and the team at Zeelo.
From day 1, Kura has had the vision to provide sustainable, efficient and safe transportation programs for our clients, and I know the Zeelo team shares this vision. I'm excited to work as one team as we continue serving our fantastic customers across the UK."
The acquisition further supports Zeelo's growth strategy and widens its client product offering. It's currently piloting with corporate clients and fleet operators across the US market as part of its expansion plans.
Kura's clients will benefit from Zeelo's routing algorithm 'RINA', which uses data to optimise bus programs, saving clients up to 43 percent on their billing and increasing ridership by 50 percent.
Investment will also continue in the electrification of bus programs, with Zeelo aiming to transition all services to net-zero emission battery-electric vehicles by 2030.
Currently, 10 percent of Zeelo's UK clients have already switched to electric buses.
Lead image: Kuro. Image: uncredited.
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