Lithium buys out Pune-based SaaS mobility platform company for unknown sum

With the deal, Lithium will be able to provide a full range of transport solutions across vehicle categories including conventional internal combustion engine ones

Bengaluru-based electric mobility start-up Lithium Urban Technologies has bought employment transportation software platform SmartCommute. The International Finance Corporation- and LGT Capital-backed company, which claims to be the biggest owner of electric vehicles in the world outside of China with 1,200 units, is diversifying its portfolio from employee transportation to public transport as well.

With the acquisition, Lithium would be able to provide a full range of transportation solutions across all vehicle categories including the conventional internal combustion engine (ICE) vehicles.

SmartCommute, founded in 2014, is an end-to-end employee transport services SaaS (software as service) platform.  According to the company, the SaaS-based platform has been built in such a way that it creates value for every touch point of a corporate’s employee transportation needs; from automated rostering, to back-to-back cab routing, trip allocations, real-time tracking and monitoring, risk management, personal safety management, automated billing and data analytics. “With the seamless integration of this platform, Lithium will now be equipped to expand further into the potential rich transportation segments including freight and rapid bus transit among others. Further, Lithium will also cater to both electric and non-electric vehicles, making it a one-stop solution for smart transportation services across different form factors for its client portfolio,” said a company statement.

Sanjay Krishnan, founder, Lithium said, “SmartCommute comes with a demonstrated expertise in high-end tech-enabled solutions for smart rostering and artificial intelligence-enabled routing that can considerably optimize operations and costs for clients. With this acquisition, we aim to expand our presence in the larger transportation and mobility ecosystem and provide full-stack services, going beyond sustainable corporate mobility solutions. Moreover, we are aiming to help clients seamlessly transition from ICE to electric vehicles given the tight integration that this platform will provide, with EVs and charging station telematics, and scheduling algorithms.”

Around 30,000 employees in over 3,000 vehicles, across Bangalore, Mumbai, Pune, Kolkata, New Delhi and Hyderabad were commuting on a daily basis through the SmartCommute platform before the Covid-19 pandemic. The Pune-based company’s clients included Capgemini, Larsen & Toubro Infotech, KPIT and TCS. Employee transportation business has been hit due to Covid-19 induced exigencies since most offices are currently adopting the working from home model or are shut because of government restrictions.

“SmartCommute has been a leading player in providing end-to-end employee transportation solutions. Our cutting edge technology platform enables substantial cost efficiencies, while enhancing employee safety and convenience. Employee transportation is a multi-billion dollar market in India and Lithium powered with SmartCommute technology will be in a formidable position to become a leader in this market,” said Ajit Patil, co-founder, SmartCommute, on the acquisition. Its investors included Yes Bay Area-based incubator Studio9+ run by Peter Relan, US-based IT firm LogicSoft, Japan-based IT firm iTAP and Purple Mobility.

Lithium owns its fleet and associated charging infrastructure, and has a backing technology platform that involves telematics, fleet management systems, scheduling, rostering and analytics-based optimisation; and trained and certified drivers. Lithium also owns and operates India’s largest EV charging network spread across seven cities in India.

The SmartCommute platform currently provides technology support to engage all types of vehicles including ICE vehicles and EVs. Lithium would now be helping its clients to transition to EVs seamlessly over a period of time.