India: eBikeGo acquires Kustard Tech to strengthen its fleet management system offering
eBikeGo has acquired Kustard Technologies, a digital product, and innovation studio for $2 million (Rs 14.8 crore) with an aim to expand its offering for the EV industry.
The company says the acquisition will help build its Fleet Management System empowering massive delivery giants such as Amazon, Flipkart, Big Basket, and more with performance-led technologies. It will also aid remote diagnostics of EVs to achieve preventative maintenance such as monitoring vehicle health, motor, battery, and controller among others.
eBikeGo claims that Kustard Technologies has shown impressive growth throughout the 3 years since its inception, expanding at a profitable rate of 60% prior to the acquisition.
In addition, eBikeGo will also expand Kustard Technologies’ team by onboarding 20 skilled developers from the EV tech industry, in order to contribute to the product, design, innovation as well as UI and UX. With the new acquisition, the company is in the works to develop an IoT system that will strengthen its EBG Matics mobility devices, which will result in smarter fleets. The device follows the 0.5 – 5 – 50 formula, in which 0.5 indicates that the vehicle should be repaired within the first half an hour in the event of any downtime or fault, 5 indicates that vehicles and their assets should last at least 5 years, and 50 indicates that the maintenance should account for only half of the cost.
