London-based WhereIsMyTransport, a digital product company using data and technology to improve mass public transport in emerging markets, has secured $7.5 million (approx €6.7 million) in a Series A round.
Google, Toyota Tsusho, and more!
This funding round was supported by existing investors Global Innovation Fund and Goodwell Investments, plus new strategic investment from Google, Nedbank, Liil Ventures, and Toyota Tsusho Corporation (TTC).
The company is planning to capitalise the funding to extend its global reach, scaling its data-collection practice, and developing new technology to translate complex data into useful information for commuters.
WhereIsMyTransport’s CEO, Devin de Vries, says that
We make the invisible visible, by collecting all kinds of data related to public transport and turning the data into information that can be shared with the people who need it most. Our solutions are designed specifically to overcome these contextual challenges. Bringing these investors together to support our mission is not only an honour but the real proof that we are building something meaningful and remarkable in the majority world.
Stumbling block for billions of people!
According to the company, public transport services remains a critical stumbling block for billions of people living without any reliable access.
In this regard, WhereIsMyTransport is on a mission to develop solutions to this problem so that everyone in these markets has the basic freedom of movement.
Enabling sustainable urban mobility
The company’s innovative technology integrates formal and informal public transport data. It makes this information available – often for the first time – to governments, operators, third-party solution developers, and to the citizens who need it most.
The UK company has developed the world’s foremost mobility data collection practice for emerging markets, including a suite of custom tools designed specifically for capturing and processing data in complex public transport ecosystems.
Janade Du Plessis, Head of Alternative Investments and Venture Capital at Nedbank added:
Nedbank CIB is at the forefront of investing in disruptive technologies that are able to make a meaningful difference to people’s lives – including smart city initiatives that leverage Nedbank’s strategy of financing our infrastructure, transport, and logistics clients. WhereIsMyTransport is a leading provider of sustainable transit solutions in complex urban environments. Our investment will support the company’s expansion into key African regions, and we will use our network and our influence on the continent to unlock new corporate partnerships.
Mobility data in emerging markets!
With more than 750,000 km of routes in 39 cities, WhereIsMyTransport has more mobility data in emerging markets than any other organisation. The company began its work in Africa in 2015, before expanding into India, Southeast Asia, and Latin America in 2018.
Main image picture credits: WhereIsMyTransport
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