ISTANBUL–(BUSINESS WIRE)–Türkiye’s mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT), and Zoba Inc. (“Zoba”), the fleet optimization solutions for two-wheeled electric vehicle operations, announced that Marti has acquired all of the intellectual property and software assets of Zoba. It is designed for transportation companies, such as ride-sharing services or public transportation agencies, to help them manage their fleets, routes, and schedules more effectively to meet customer demand and reduce operating expenses, respectively.
Founded by Harvard and MIT graduates, Zoba’s AI-powered SaaS platform and dynamic fleet optimization algorithms are expected to enable two-wheeled electric vehicle operators to generate more revenue and reduce their field operations costs. Moreover, Zoba dynamically optimizes vehicle deployment locations and operational task timing. Leveraging proprietary demand forecasting algorithms achieves maximizing ridership and minimizing vehicle operational inefficiencies.
The acquisition is part of Marti’s focus on creating operational efficiencies in its two-wheeled electric vehicle operations. This also includes a fleet of over forty thousand e-bikes, e-mopeds, and e-scooters. The Company embarked on its operational efficiency enhancing projects in 2023 and is further building on its efforts in 2024. The acquisition follows a pilot project which Marti completed with Zoba in October and November 2023, in which the use of Zoba software to optimize Marti’s vehicle deployment locations increased ridership of Marti vehicles and had a positive contribution to profitability(*).
“We performed pilot projects with several optimization software providers. These efforts aimed to increase revenue and reduce the costs of our two-wheeled electric vehicle operations. We achieved the best results using Zoba’s software. Furthermore, we are excited to bring onboard this best-in-class software in an effort to increase the availability of our vehicles for our riders and reduce our field operations costs,” said Oguz Alper Oktem, CEO of Marti. “Zoba originally built the software to optimize two-wheeled electric vehicle operations. We plan to further develop the operations of our ride-haling business from its solid base. Zoba expects its software to serve as the foundation. We make continuous improvements to critical components of our ride-hailing business. Moreover, these include our rider-driver matching algorithm and our dynamic pricing engine.”
“The incredible Zoba team has always dedicated themselves to enhancing the efficiency, cleanliness, and livability of cities. Our technology will continue to support that mission at scale with Marti, Türkiye’s mobility super app,” said Joseph Brennan, cofounder and co-CEO of Zoba. “The demand for shared mobility services continues to rise. The need for effective AI and optimization to help operations teams maximize resources will only continue to grow. With today’s announcement, Marti further demonstrates its commitment to building the world’s most advanced, tech-forward mobility super app.”
