Hybrid Shifting has announced the acquisition of Pikkol, a Bengaluru-based packer and mover company in a cash deal.
“This strategic acquisition allows Hybrid Shifting to stay ahead of the curve when it comes to technology, an extensive partner network across 100 cities in India, and a customer base of Pikkol,” the statement said.
The entire staff of Pikkol, including the leadership, without any layoffs, will continue to stay focused on further developing the technology and its product offerings for a better customer experience.
Speaking about the acquisition, Rahul Pillai, Founder & CEO of Hybrid Shifting said, “By adopting Pikkol’s direct-to-consumer model and app-based technology, we are committed to delivering an exceptional experience for our customers in an industry moving towards employee reimbursement.”
Hybrid Shifting, powered by Transworld International’s strategic investment and FIDI FAIM accreditation, along with the acquisition of Pikkol’s tech-enabled innovations, becomes the only company in India to have a tech-enabled solution for B2B and B2C business at different price points with a strong commitment towards quality, transparency, trust and sustainability.
“Hybrid Shifting, backed by the exceptional leadership of Rahul Pillai and Transworld International’s infrastructure brings tremendous growth, scale, and an international platform. With this collaboration, our customers can now choose between a white glove service and a no-frills service without compromising on quality and commitment.” Deepu Chandran, Founder and CEO of Pikkol and RedNile Innovations
“This divestment and partnership is in line with our strategic vision to let us concentrate on logistics services for our clients as Pikkol continues to deliver exceptional customer service in relocation,” further added.
Earlier, Hybrid Shifting Solution India Pvt. Ltd. (Hybrid Shifting) secured $ 2.5 million from Transworld International.