After recently launching a meal delivery service, Careem is exploring a new playground: bicycle sharing, with the acquisition of Cyacle, a company based in Abu Dhabi.
Launched in Abu Dhabi in 2014, bicycle sharing company Cyacle has since enjoyed great popularity among the residents of the Emirati capital. With 300 bicycles spread over 50 stations, the company now has nearly 75,000 regular users and is a leader in micro-mobility in the Middle East.
The success is such that it caught Careem’s eye. The Emirates-based provider of VTC, announced that it had acquired Cyacle but did not disclose the amount of the acquisition.
“The increasing availability of bicycles and the expansion of bicycle paths will transform the way people travel in the region”
Careem, an emerging Emirati company
Already active in the food delivery market with Careem NOW in the United Arab Emirates and Saudi Arabia, Careem is thus making its first foray into the micromobility market. Since its acquisition by its American competitor Uber, the Emirati VTC company has continuously expanded its range of services.