Airtel acqui-hires logistics tech startup Quikmile

Airtel acqui-hires logistics tech startup Quikmile
Photo Credit: Reuters
26 Nov, 2019

Indian telecommunications company Bharti Airtel has acqui-hired Gurgaon-based vehicle tracking logistics platform Quikmile. The companies did not disclose the deal amount.

Post the acqui-hire, Quikmile’s team will be merged with Airtel’s team to be a part of Airtel X Labs, the New Delhi-based company said in a statement.

Founded by Abhishek Kumar and Jagdish Prasad Saroj in 2018, Quikmile develops a mobile-based application that offers vehicle tracking and transportation management solutions for the logistics sector. Its solutions reportedly help companies track engine condition and mileage. 

Airtel X Labs is a digital innovation hub that focuses on the internet of things (IoT), digital engineering, artificial intelligence (AI) and machine learning (ML). 

“India is now amongst the largest economies in the world but has a highly disorganised and inefficient logistics sector,” said Harmeen Mehta, global director and CIO of engineering at Bharti Airtel, adding that technology will help make the sector more efficient. 

The telecom company has been investing in technology startups over the past few months. 

 Last month, Airtel had launched its accelerator platform to support the growth of early-stage Indian tech startups. It also bought a stake in Bengaluru-based tech startup Vahan.   

The company recently acqui-hired AuthMe ID, a Bengaluru-based artificial intelligence solutions provider.