Our sophisticated route optimisation systems use AI algorithms to reduce travel times and fuel consumption, enhancing operational efficiency and passenger experience: Ashok Vashist, Founder and CEO, WTiCabs

WTiCabs took the limelight with its record-breaking IPO listing, oversubscribing 160 times. A year on, the company is still outpacing market expectations, delivering spectacular post-IPO growth. In this exclusive interview with Express Computer, Ashok Vashist, WTiCabs Founder and CEO, shares the success formula behind this phenomenon, how corporate mobility has changed with technology, and why sustainability lies at the heart of the company. He also gives us a peek into WTiCabs’ ambitious global expansion plans and the way the company is navigating the process of transformation in the new mobility environment. From AI-driven operational efficiencies to eco-friendly mobility solutions, Vashist reveals how WTiCabs is transforming the corporate mobility future and balancing profitability with sustainability.

WTiCabs had an extraordinary IPO debut, with an oversubscription of 160 times. A year later, the company continues to outperform market expectations. What were the key factors behind this strong post-IPO growth, and how has being a listed entity influenced your business strategy?

There are several factors at play. The IPO itself received an overwhelming market response, with an oversubscription of 160 times, indicating high investor confidence. We strategically utilised the funds raised from the IPO, efficiently allocating resources for working capital and corporate growth. This judicious use of capital drove expansion and operational efficiency, allowing us to capitalise on market opportunities and strengthen its position in the corporate mobility sector.

Becoming a listed entity has significantly influenced our business strategy. We now operate under more stringent regulatory standards, leading to increased transparency and enhanced corporate governance. This heightened level of scrutiny has prompted us at WTiCabs to implement more robust internal controls and reporting mechanisms, fostering greater trust among stakeholders. Furthermore, being subject to market accountability has encouraged us to maintain a sharp focus on sustainable growth and shareholder value creation, likely influencing decision-making processes with a greater emphasis on long-term value creation and strategic initiatives that align with market expectations and shareholder interests.

Technology plays a crucial role in corporate mobility. How is WTiCabs leveraging AI, ML, and data analytics to enhance operational efficiency, improve user experience, and drive sustainable growth?

At WTiCabs, we have implemented sophisticated route optimisation systems that utilise AI algorithms to analyse various factors such as traffic patterns, weather conditions, and historical data. This advanced approach allows WTiCabs to reduce travel times and fuel consumption, resulting in improved operational efficiency and a better experience for passengers. We have also employed machine learning models for predictive maintenance of our vehicle fleet. By anticipating wear and tear on vehicle components, we can proactively schedule maintenance, minimising unexpected breakdowns and extending the lifespan of our vehicles. This not only reduces maintenance costs but also ensures a more reliable service for our corporate clients.

Sustainability is a growing priority in the transportation sector. With an increasing EV fleet and green mobility initiatives, how is WTiCabs balancing profitability with environmental responsibility?

At WTiCabs, we are actively integrating sustainability into our operations while maintaining profitability. We are ever-committed to expanding our EV fleet, particularly in employee transportation services. This initiative has resulted in a notable decrease in carbon footprint and enhanced operational efficiency. More importantly, this shift towards greener mobility solutions has not come at the expense of profitability. WTiCabs’ strong financial position has enabled the company to invest in sustainable technologies without compromising its bottom line. By aligning environmental responsibility with strategic growth objectives, we are proud to have shown the industry, by example, that it is absolutely possible to pursue eco-friendly initiatives while maintaining strong financial performance.

The company has ambitious global expansion plans, targeting markets like the Middle East, the Far East, and London. What are the key challenges and opportunities in scaling WTiCabs internationally, and how do you plan to maintain a strong domestic presence while expanding overseas?

Whenever there is a significant expansion in the pipeline, it faces several challenges and opportunities. For us, at WTiCabs, key challenges include navigating diverse regulatory frameworks, adapting to varied cultural preferences, and competing with established local and international players in new markets. However, there are also some notable opportunities that we have identified, such as market diversification, enhanced brand recognition, and exposure to new technologies and business practices that can foster innovation.

While pursuing international growth, WTiCabs remains committed to maintaining a strong domestic presence. We have adopted an asset-light model by partnering with local operators, enabling expansion beyond metropolitan areas into Tier I-III cities in India. This approach allows us to extend our reach without the heavy capital expenditure typically associated with fleet expansion. We also have plans to further enhance our sustainability initiatives domestically by adding more EVs to our fleet, aligning with both environmental goals and evolving customer preferences.

As a leader with decades of experience in corporate mobility, what are the biggest industry shifts you foresee in the coming years, and how is WTiCabs positioned to stay ahead in an evolving landscape of hybrid work models and post-pandemic mobility trends?

I believe that change is the only constant. There are a great many new trends getting introduced with each passing day, and the same is going to continue in the time to come as well. Technological advancements, particularly in AI-driven optimisation and autonomous vehicles, continue to change the way the sector functions. Enhancing safety and efficiency with the help of new-age tech is no longer a mere consumer preference; it has grown into an industry imperative now. Apart from this, the focus on sustainability is also likely to intensify, as the demand for green mobility options across the corporate sector continues to grow. The rise of hybrid work models is also expected to reshape mobility needs, necessitating more flexible commute solutions.

Amidst the changing face of the industry, we, at WTiCabs, are well-prepared to stay ahead in this evolving landscape. To that end, we have several ongoing initiatives, such as expanding our EV fleet and promoting green mobility options, aligning closely with global sustainability goals. We are also developing flexible commute solutions to cater to the changing needs of the workforce in the post-pandemic era. By anticipating these industry shifts and adapting its strategies accordingly, WTiCabs aims to maintain its leadership position and drive innovation in the future of corporate mobility.