Marti expects to use AI-powered optimization
technology to drive enhancements across two-wheeled electric
vehicle and ride-hailing operations
Türkiye’s leading mobility super app Marti Technologies, Inc.
(“Marti” or the “Company”) (NYSE American: MRT), and Zoba Inc.
(“Zoba”), the world’s leader in fleet optimization solutions for
two-wheeled electric vehicle operations, today announced that
Marti has acquired all of the intellectual property and software
assets of Zoba.
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.
Leveraging proprietary demand forecasting algorithms, Zoba
dynamically optimizes where vehicles are deployed and when
operational tasks, such as battery swaps, rebalances, and pick-ups,
occur to maximize ridership and minimize vehicle operational
inefficiencies.
The acquisition is part of Marti’s focus on creating operational
efficiencies in its two-wheeled electric vehicle operations, which
include 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(*).
“As part of our efforts to increase revenue and reduce the costs
of our two-wheeled electric vehicle operations, we performed pilot
projects with several optimization software providers. We achieved
the best results using Zoba’s software, and 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. “While
Zoba’s software was originally built to optimize two-wheeled
electric vehicle operations, we plan to further develop the
operations of our ride-haling business from its solid base.
Zoba’s software is expected to serve as the foundation for the
continuous improvements we make to critical components of our
ride-hailing business, including our rider-driver matching
algorithm and our dynamic pricing engine.”
“The incredible Zoba team has always been dedicated to making
cities more efficient, clean, and liveable, and our technology will
continue to support that mission at scale with Marti, Türkiye’s
leading mobility super app,” said Joseph Brennan, cofounder and
co-CEO of Zoba. “As 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.”
(*) Pilot results not necessarily indicative of future
attainment.
About Marti:
Founded in 2018, Marti is Türkiye’s leading mobility app,
offering multiple transportation services to its riders. Marti
operates a ride-hailing service that matches riders with car and
motorcycle drivers, and operates a large fleet of rental e-mopeds,
e-bikes, and e-scooters. All of Marti’s offerings are serviced by
proprietary software systems and IoT infrastructure. For more
information, visit www.marti.tech.
About Zoba:
Zoba is making cities more efficient to improve the lives of
people who live in them. Zoba’s platform leverages AI to forecast
demand and optimize operational decisions to increase revenue and
minimize costs for mobility and logistics operators. Founded out of
Harvard and MIT and based in Boston, Zoba is backed by leading
investors including NTTVC, CRV, Founder Collective, and Mark
Cuban.
Cautionary Statement Regarding Forward-Looking
Statements:
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, also known as the Private Securities Litigation Reform Act
of 1995. Any express or implied statements contained in this press
release that are not statements of historical fact and generally
relate to future events, hopes, intentions, strategies, or
performance may be deemed to be forward-looking statements,
including but without limitation to statements regarding our
ability to increase ridership, generate more revenue and reduce
operational costs as a result of the Zoba acquistion and the
successful integration of the acquired IP in our two-wheeled
electric vehicle operations and ride-hailing businesses, or the
timing of occurrence related to any of the foregoing. Words such as
“expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“might,” “possible,” “believe,” “predict,” “potential,” “continue,”
“aim,” “strive,” and similar expressions may identify such
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
These forward-looking statements involve known and unknown
risks, uncertainties, assumptions, and other factors that may cause
actual results to differ materially from statements made in this
press release, including other important factors discussed under
the caption “Risk Factors” in the Company’s Registration Statement
on Form F-1 (including the documents incorporated by reference
therein), which was declared effective by the SEC on October 27,
2023, as such factors may be updated from time to time in the
Company’s other filings with the SEC, accessible on the SEC’s
website at www.sec.gov and the “SEC Filings” section of the
Company’s website at https://ir.marti.tech. Any investors should
carefully consider the risks and uncertainties described in the
documents filed by the Company from time to time with the SEC as
most of the factors are outside the Company’s control and are
difficult to predict. As a result, the Company’s actual results may
differ from its expectations, estimates and projections and
consequently, such forward-looking statements should not be relied
upon as predictions of future events. All information provided in
this release is based on information available to the Company as of
the date of this press release and any forward-looking statements
contained herein are based on assumptions that the Company believes
are reasonable as of this date. Undue reliance should not be placed
on the forward-looking statements in this press release, which are
inherently uncertain. The Company undertakes no duty to update this
information unless required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240205710062/en/
Investor Contact Marti Technologies, Inc. Turgut Yilmaz
Investor.relations@marti.tech
Marti Technologies (AMEX:MRT)
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