Acquires the UAE-based bikeshare company, Cyacle
Careem has entered the micro-mobility space with the acquisition of UAE-based company Cyacle.
Cyacle is the leading bikeshare service in UAE.
Launched in December 2014, it’s a fully-automated docked bikeshare service currently operating in Abu Dhabi. Stations run 24-hours a day via an app, a touch screen kiosk and docking system that releases bikes using a ride code or a member key.
The new app will be available for iOS and Android, initially as a standalone Careem app, that can be accessed via the main Careem app.
Users can access the bikes via app or physically at one of the smart docking stations with credit and debit cards, and the service will offer bikes through a range of daily to yearly memberships.
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.”
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.”
This acquisition is part of Careem’s overall platform strategy to offer complete mobility solutions, affordable transportation and first- and last-mile mobility. Careem plans to bring micro-mobility to more cities throughout the region over the next 12 months.
Bikeshare is a natural extension of Careem’s vision to improve mobility, sustainability, and affordability in the region.
This service enhances transport options and improves mobility both within the communities in which they are stationed, as well as providing first-and-last-mile transportation to and from other forms of transport.
Regional governments are investing heavily in cycling infrastructure and the promotion of cycling as a healthy, sustainable and affordable mode of transportation.
Careem will work closely with local government and communities across the region to invest in bikeshare service in support of their micro-mobility goals.
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