Careem acquires the leading bikeshare company, Cyacle. This acquisition clearly represents Careem’s move into micro-mobility.
Cyacle, the leading bikeshare company was launched in December 2014. It’s a fully-automated docked bikeshare service operating in Abu Dhabi. Stations run 24-hours via an app, a touch screen kiosk and docking system which releases bikes simply by using the ride code or a member key.
Sami Amin, CEO of Cyacle said, “It’s exciting to be taking micro-mobility to the next level becoming an integral part of life in the capital, and with Careem now involved it will accelerate the service and improve the lives of so many more people in the region.”
Currently, users can access via the main Careem app, the new app will be available soon for iOS and Android. The service will offer bikes from daily to yearly memberships. The users can access bikes via the app or physically at one of the smart docking stations by using credit and debit cards.
Careem’s CXO and co-founder Magnus Olsson said, “This deal means Careem will be able to improve micro-mobility in the region and simplify one of the most important mobility issues – the first and last mile problem. Many journeys are relatively short in distance, including those to and from transportation hubs such as metro and bus stations, so increasing bicycle availability and expanding routes will transform how people commute, as well as offering micro-mobility solutions for short-distance trips.”
Hani Akasha, the Emirati founder of Cyacle added, “The startup scene in the UAE is now such a fast-moving tech environment, and this just proves what we can do in this country.”
Careem plans to bring micro-mobility throughout the region over the next 12 months. This acquisition will follow Careem’s strategy offering full mobility solutions with the affordability and healthy mode of transportation.
Bikeshare is an extension of Careem’s strong vision to improve sustainability, mobility and affordability in the region. This service provides first-and-last-mile transportation meeting its micro-mobility goals.
Careem will work closely with local government and different communities to invest in bikeshare service and promoting cycling as the most healthy, sustainable and affordable mode of transportation.