Moovit raises $50m to expand urban mobility operating system

Israel-based Transit app developers Moovit App Global has closed a $50m (£35m) Series D round led by Intel Capital. The funds will be used to expand its global sales team, enhance its consumer products to support user growth and invest in its Mobility as a Service Platform. Additionally, professor Amnon Shashua, senior vice president of Intel and CEO / CTO of Mobileye, will join Moovit’s board of directors as an observer. The app is said to provide transit information to more than 120 million users i
February 26, 2018 Read time: 2 mins
Israel-based Transit app developers 7356 Moovit App Global has closed a $50m (£35m) Series D round led by Intel Capital. The funds will be used to expand its global sales team, enhance its consumer products to support user growth and invest in its Mobility as a Service Platform.


Additionally, professor Amnon Shashua, senior vice president of Intel and CEO / CTO of Mobileye, will join Moovit’s board of directors as an observer.

The app is said to provide transit information to more than 120 million users in more than 2,000 cities in 80 countries.

Nir Erez, Moovit’s co-founder and CEO, said: “Moovit expects to surpass 1 billion users by 2021 and to expand significantly the number of cities that use Moovit’s data analytics to improve urban mobility. We are especially thrilled about our plans to collaborate with Mobileye. It’s a synergistic relationship at an exciting time to be shaping the future of urban mobility.”

Shashua said: “With significant investments in automated driving, mobility management platforms and smart infrastructure, Intel is at the forefront of a fundamental transformation of urban mobility. We’re working with some of the most innovative transit companies, municipalities and transit authorities to build critical foundational technologies for this transformation.”

“Moovit is one of the world’s leaders in public transit data and analytics. The combination of Mobileye’s and Moovit’s technology and data will be instrumental in making cities ready for autonomous vehicles", Shashua added.

UTC

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