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eBikeGo, India's largest electric two-wheeler mobility platform has acquired tech firm, Kustard Technologies, a digital product and innovation studio for $2 Million.
eBikeGo claims the purchase of Kustard Technologies is to help it with its goal of modernising the electric vehicle industry. The company hopes its new acquisition will help it stay ahead of its competition.
Speaking about his company's acquisition of Kustard Technologies, Irfan Khan, Founder & CEO of eBikeGo said, "We are extremely happy to acquire one of the burgeoning tech firms, Kustard Technologies, to help push the EV industry to the next level with cutting-edge technology. Every year, approx. 25 Million petrol two-wheelers are sold in India. Previously, less than 0.15 Million electric twowheelers has been sold, accounting for just 0.6 percent of overall two-wheeler sales. One of the major reasons for this is that most electric two-wheeler vehicles today are not connected to IoT 2 (Internet of Things) making the user devoid of a complete, dependable digital experience. eBikeGo's vision with this purchase is to transform Electric Vehicles into smart connected vehicles. As industry experts, we understand the urgency and significance of technology in EV space."
Using Kustard's expertise, eBikeGo plans to build a FMS (Fleet Management System) that will help out its b2b partners like Amazon, Flipkart and BigBasket. The new FMS will also help with remote diagnostics such as monitoring vehicle health, motor, battery, controller, etc to achieve preventative maintenance. To aid in this cause, eBikeGo has also expanded its team by onboarding 20 leading and skilled developers from the EV tech industry, in order to contribute and work on the product, design, innovation as well as UI and UX.
With the help of the newly acquired Kustard team eBikeGo is already working to develop an IoT system which will strengthen its EBG Matics mobility devices. This, claims the company, will result in smarter and more efficient fleets in the Indian electric vehicle ecosystem.
Speaking about the acquisition, Javed Khatri, Founder and CEO, Kustard Technologies said "At Kustard, we always knew that we had a kickass team that has a proven track record of shipping great products consistently, however, a solid purpose was missing and eBikeGo with its vision, gave us that opportunity to make a difference in people's lives and change the world for good. Every line of code we write, every pixel we design, every feature we ship, directly impacts the environment and hence mankind. This compelled us to join hands with eBikeGo. EBG Matics is a revolutionary technology which is unlike any other telematics device. It analyses rider and vehicle behaviour using AI and machine learning to track and optimise efficiency for the user."
eBikeGo claims that the EBG Matics data can be used by fleet operators to decide which electric vehicle using financing. The driver safety data generated by EBG Matics can also be used by insurance agencies to modify a driver's insurance policy.
Thoughts on eBikeGo's Acquisition of Kustard Technologies
eBikeGo is going from strength to strength and the company's latest acquisition will help them stay ahead of their competition while proving customers with a fleet experience unlike anything else.