A small British startup that combines school bus services with a software platform to protect students has been acquired by a “smart bus” startup Zerowhich last year raised $14 million in funding for expansion.
Founded in the UK in 2010, KulaThe company previously raised £3.8 million in private equity funding Suter Investmentproviding similar services to schools and colleges, bus transport and staff shuttle and charter transport services across the UK.
Zeelo is acquiring the company for an undisclosed sum, meaning the combined entity will have 220 customers, 450 operator partners and 40,000 daily riders using the platform, according to the company.
last year Zeelo received a $14 Series A extension, bringing total funding raised since launching in 2016 to $33.6 million. Zeelo claims that its “smart bus” routing algorithm optimizes bus planning, saving customers up to 43% on their bills and increasing ridership by 50%.
The company said it plans to expand sales and operations in the United States and enhance its technology platform. Avoided The SPAC-backed Swvl acquisition failed and the tech stock market fluctuated.
Although Zeelo co-founder and CEO Sam Ryan declined to comment on the acquisition price, he hinted in a statement that there were “a range of M&A opportunities” in the UK and US markets.