Middle East’s transportation giant Careem has finally acquired the micro-mobility startup Cyacle, a UAE-based bike-sharing startup currently operational only in Abu Dhabi.
What is Cyacle?
Launched in 2014, Cyacle is a fully automated short-term cycle hire scheme available 24×7 with 50 stations and over 300 bikes across Abu Dhabi. Each station has a touchscreen kiosk, station map, and a docking system that releases bikes using a ride code or a member key. It’s a fun, affordable and convenient way to get around.
About the Acquisition
Though the acquisition has been closed without revealing any financial details, we still have other plenty of important details to share…
Mobile App launch
To make the service even handier, Careem will be launching an app for iOS and Android devices, while the users will still be able to pick bikes directly from the docking stations.
Why this acquisition was a smart choice?
As mentioned on Careem’s blog, bike sharing is a natural extension for Careem to improve mobility, sustainability and affordability. Regional governments are investing heavily in cycling infrastructure and the promotion of cycling is a healthy, sustainable and affordable mode of transportation.
Statements enclosing the deal
Magnus Olsson, Careem’s co-founder 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.”
Cyacle will be re-branded as Careem Bike. Careem will be closely working with the local governments and communities across regions to expand their goal of bike sharing across more cities in UAE over the next 12 months.