Careem has purchased Cyacle, a bike-sharing platform from the UAE, for an undisclosed amount to help Careem grow their micromobility options.
Launched in 2014, Cyacle is a fully-automated docked bike-sharing service that’s currently operational in Abu Dhabi. Its stations run 24 hours a day through a mobile app, a touch screen kiosk and a docking system that releases bike using a ride code or a member key.
Careem will be launching a new standalone app for iOS and Android to enable users to access the service. The users will also be able to access the bikes at docking stations even without the app by paying with credit or debit cards. The service, per statement, will be offered through a range of daily to yearly memberships.
Careem’s Co-Founder and CXO and Magnus Olsson, commenting on the occasion, 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.”
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