At a Glance
Lithium Urban Technologies, a Bengaluru-based electric-mobility business, has paid an unknown price for SmartCommute, an employment transportation SaaS platform. Lithium, funded by The International Finance Corporation and LGT Capital, claims to be the largest EV operator outside of China, with almost 1,200 electric cars (EV). In addition to employee mobility, the firm is expanding its services to include public transportation. Employee mobility is a multibillion-dollar industry in India, and with this acquisition, Lithium will be well-positioned to become the market leader.
Lithium Urban Technologies, a Bengaluru-based electric-mobility startup, has acquired SmartCommute, an employment transportation SaaS platform, for an undisclosed sum.
Lithium, backed by The International Finance Corporation and LGT Capital, has nearly 1,200 electric vehicles (EV) and claims to be the largest EV operator outside China. The company is expanding its offering to include public transport in addition to employee mobility. SmartCommute, founded in 2014, is a SaaS platform that provides end-to-end employee transportation services.
As a result of the acquisition, Lithium would deliver a broad spectrum of transportation solutions across all vehicle types, including traditional internal combustion engine (ICE) cars.
The SaaS-based platform, according to SmartCommute, has been designed to provide value to every contact point of a company’s employee transportation needs, including automated rostering, back-to-back cab routing, trip allocations, real-time tracking and monitoring, risk management, personal safety management, automated billing, and data analytics.
“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.”Sanjay Krishnan – Founder, Lithium
He also stated that because of the close connection that this platform would provide with EVs and charging station telematics and scheduling algorithms, they want to assist clients in making a seamless transition from ICE to electric cars.
Before the Covid-19 epidemic, some 30,000 employees in over 3,000 cars commuted every day using the SmartCommute platform in Bangalore, Mumbai, Pune, Kolkata, New Delhi, and Hyderabad. Capgemini, Larsen & Toubro Infotech, KPIT, and TCS were among the Pune-based firm’s clientele. Because most offices are now embracing the working from home model or are closed due to government limitations, the employee transportation sector has taken a hit due to Covid-19-induced constraints.
“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.”Ajit Patil – Co-Founder, SmartCommute
Lithium controls its fleet and charging infrastructure, as well as a technological platform that includes telematics, fleet management systems, scheduling, rostering, and analytics-based optimization, as well as qualified and certified drivers. Lithium also owns and runs India’s largest electric vehicle charging network, which spans seven cities.
Currently, the SmartCommute platform provides technical support for all sorts of cars, including ICE and EVs. Lithium will now assist its clients in making a smooth transition to electric vehicles over time.