TRANSIT TECH COMPANY ZEELO ACQUIRES KURA TO ACCELERATE GROWTH AND PROFITABILITY

ZEELO'S FIRST ACQUISITION CEMENTS ITS POSITION AS THE UK'S LEADING PROVIDER OF CORPORATE AND EDUCATION TRANSPORT

• ACQUISITION FURTHER ACCELERATES ZEELO'S UK PROFITABILITY AFTER RECENT $14M FUNDRAISE ANNOUNCEMENT
• COMBINED ENTITIES WILL HAVE OVER 220 CORPORATE AND EDUCATION CUSTOMERS, TRANSPORTING 40,000 DAILY RIDERS
• KURA BRINGS WORLD CLASS SAFEGUARDING TECHNOLOGY TAILORED FOR EDUCATION CLIENTS & CHARTER TRIPS
• ALIGNED VISION TO PROVIDE SUSTAINABLE, EFFICIENT AND SAFE TRANSPORTATION PROGRAMS

LONDON, Feb. 1, 2024 /PRNewswire/ -- Zeelo, the leading global transit-tech company has acquired UK-based Kura, a specialist in school transportation and transport safeguarding software.

The acquisition furthers Zeelo's position as the UK market leader in the Corporate and Education transportation markets with the news coming after a recently announced $14m fundraise to further UK profitability and drive rapid expansion in the US.

Founded in the UK in 2010, Kura is a market leader in the Education transportation space, with its technology consisting of a SaaS and TaaS platform, providing enhanced safeguarding features designed to provide Schools and Colleges with safe, efficient and sustainable transportation programs. Kura also provides employee shuttle and Charter transport services for companies across the UK.

The combined businesses will have the largest virtual bus operation in the UK, with over 220 customers, 450 operator partners and 40,000 daily riders using the platform. The businesses serve an impressive pool of Education clients in the UK including Hartpury College and Warwick Schools Foundation.

The transaction terms are undisclosed, however Zeelo has raised additional capital from European and US based investors to fund the acquisition.

Sam Ryan, Co Founder & CEO of Zeelo said 'After our recent $14M fundraise announcement, I'm delighted to be sharing the news of further growth through the acquisition of Kura. We were impressed with the world class technology and the high quality service delivery provided by the Kura team. Their complimentary business model will further accelerate our profitability in the UK. This is the first of many M&A opportunities that will play an important role in our growth strategy as we continue to scale in the UK and US markets.'

Godfrey Ryan, CEO of Kura said, 'This is a fantastic outcome for the Kura team and we're delighted to be joining forces with Sam and the team at Zeelo. From day 1, Kura has had the vision to provide sustainable, efficient and safe transportation programs for our clients and I know the Zeelo team shares this same vision. I'm excited to be working as one team as we continue to serve our fantastic customers across the UK'.

The acquisition further supports Zeelo's growth strategy and widens its product offering to clients. As part of the acquisition, customers can now utilize a dedicated charter team for team events, transfers and school trips as well as benefiting from Kura's innovative SaaS offering, designed to digitize existing bus operations and provide their clients with the latest safeguarding features.

Zeelo plans to continue to invest in SaaS product development and is already piloting the offering with corporate clients and fleet operators across the US market as part of its expansion plans.

Kura's clients will be able to benefit from Zeelo's routing algorithm 'RINA', which uses data to optimize bus programs, saving clients up to 43% on their billing and increasing ridership by 50%

Investment will also continue in the electrification of bus programs, with Zeelo aiming to transition all services to net-zero emission battery-electric vehicles by 2030. Currently, 10% of Zeelo's UK clients have already made the switch to electric buses, including leading Schools such as Dwight School.

Sam Ryan, Co Founder & CEO of Zeelo continued 'With a fast-growing US business, a profitable UK business and a pipeline of M&A opportunities across both markets, we are excited about what the future holds for Zeelo as we continue on our mission. We're delighted to have the Kura team on board for the journey ahead'

About Zeelo

Zeelo is a leading global TransitTech company powering bus operators, employers and schools to provide highly efficient, sustainable and affordable transportation programs. Zeelo provides software and managed services to its clients and partners to increase bus occupancy levels, reduce transportation costs, CO2 emissions and administrative time. Its secure and innovative transportation management software system comprises a SaaS platform, a proprietary routing algorithm, mobile apps for riders and drivers, and 24/7 customer support ensuring poorly connected commuters have a regular, subsidized and sustainable bus service, wherever they are based. Headquartered in London with an R&D team in Spain and live operations in the UK, US and South Africa, Zeelo was founded in 2016 by Sam Ryan, Barney Williams and Dani Ruiz. The co-founders previously sold their pioneering ride-sharing app JumpIn to Addison Lee in 2014. Zeelo, your next stop. For more information, please visit www.zeelo.co 

About Kura

Established in 2010, Kura is a leading UK shared transport service provider, bringing together game-changing technology and a safer, smarter, greener vision to change the way people travel.

Kura specialises in Corporate and Education transport solutions, sourcing, delivering, and managing Home to Work services, staff and student shuttles plus VIP transport for high profile transfers, events and tours.

Our powerful transport safeguarding software can track each journey, ensuring passenger safety and measuring environmental efficiency in a convenient, user-friendly and cost-effective format. Kura helps schools and businesses achieve their goals of providing safe, sustainable and efficient transport that also delivers a better passenger and parent experience.

Kura's goal is to provide a more environmentally friendly way to transport people to and from school or work by replacing cars on the road with safe, efficient shared transport services.

For additional information, please visit www.ridekura.com

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