BP Invests in MaaS Global
BP Ventures is investing €10 million in MaaS Global, a “Mobility as a Service” operator. Through its “Whim” smartphone app, the first commercially available, all-inclusive MaaS solution, MaaS Global offers mobility services that enable route-planning, booking, ticketing and payment options combining various methods of transportation, such as railways, buses, taxis and rental cars.
The company claims that it is set to make the biggest change in transport since cars became widely affordable. Its strengths include the sophisticated technologies it used to develop Whim and its creative, monthly subscription packages. To date, more than 180,000 people have downloaded the Whim app. The company also plans to expand Whim’s reach with pilot plans in a number of markets including Singapore, Japan and North America.
BP Ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, BP has invested over $500 million in technology companies across more than 50 entities with more than 300 co-investors.
BP is working on a strategy to develop and provide mobility and transportation options in an increasingly smarter, digital world. The investment in the Finnish-based start-up supports this strategy. The companies like Mitsubishi Corporation and Toyota Financial Services have also invested in MaaS Global.
Roy Williamson, vice president Advanced Mobility at BP said:
“Whim is super convenient. It offers users a single digital key that unlocks the full spectrum of city transport. It takes the hassle out of planning travel, taking on board users’ preferences and connecting and booking their ideal transport choices.
“The MaaS Global team is at the forefront of a tech-enabled mobility evolution – from having to own a vehicle to being able to easily connect and use all available forms of transport. Our collaboration is a great example of BP’s vision for the future of transportation, mobility and integrated cities.”
The ‘Mobility-as-a-Service’ (or MaaS) industry is forecast to grow significantly in revenue by 2030, as the market shifts towards a model of on-demand access to both public and private transport networks. BP and Maas Global also plan to explore opportunities to integrate existing BP offers and technology into the platform.
Source: Press Release