Limo inks deal with Lodha’s Palava Smart City

India Infoline News Service | Mumbai | September 22, 2016, 17:43 IST

This agreement will officially have Limo as an integrated part of the smart city offerings at Palava.

Raftaar Technologies Pvt Ltd has entered into an agreement with Lodha Group offering its Limo smart bus services for the residents of Palava city – one of India’s fastest growing and privately-planned smart cities developed by Lodha Group. This agreement will officially have Limo as an integrated part of the smart city offerings at Palava. This will enable not just seamless connectivity within Palava but will also connect it to Airoli, Mahape, Thane, Vashi, Powai and all parts of Mumbai.

Founded in 2015, Raftaar Technologies are the creators of the Limo smart bus network which works with everyone from individual commuters to communities to corporates and provides bespoke AC bus transit solutions. “We’re very pleased to work with a township the size of Lodha’s Palava Smart City” said Siddharth Sharma, CEO - Raftaar Technologies.

He added “Comfortable, reliable and economical transportation is the requirement of all cities and Limo is proud to be serving the residents of Palava Smart City with connectivity to all parts of Mumbai. Our AC buses offer features such as tracking on one’s mobile and payments made digitally either through the app or with the Palava Smart Citizen card.”

Palava, a greenfield smart city in the Mumbai Metropolitan Region (MMR), is the fastest growing “city start-up” in the world with a record delivery of 11,000 homes since its inception. Spread over 4,500 acres, Palava is expected to house over 100,000 families and create approximately 350,000 direct and indirect job opportunities by 2025. According to the planners, Palava’s annual GDP will grow to INR 60,000 crore by 2025, making it one of the fastest-growing young cities in the world.

Shaishav Dharia, Regional CEO, Lodha Group, said: “As India grows over the next 20 years, people in large urban centres like Mumbai will increasingly seek a better quality of life. At Palava, it has been our continuous endeavor to provide our citizens a safe and happy environment for their families with access to a variety of avenues to enhance the potential of each individual. With Limo, we aim to further enhance the experience and conviences of our residents at the tip of their fingers.”

This is the third agreement that Limo has entered into post Rainmaker Ventures investing in them in June this year. Raftaar Technologies had earlier raised a seed round from India Quotient, Anupam Mittal and others.
 

Advertisements

  • Get your free IIFL Demat & Trading A/c now...Click here
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.