Moovit has closed a $50 million Series D round led by Intel Capital and other investors being Sequoia, BMW iVentures, NGP, Ashton Kutcher’s Sound Ventures, BRM, Gemini, Vaizra, Vintage, and Hanaco.
It is known that Moovit is a transit data and mobility analytics company and transit app. The Israeli startup combines information from public transit operators and authorities with live information from its user community and offers transit riders a real-time picture, including the best route for the journey.
Moovit’s free app has more than 120 million users in more than 2,000 cities in 80 countries. The company claims to have amassed the world’s largest repository of transit data and generates more than one billion movement data points a day. The company has shaped its data into the Smart Transit Suite to help municipalities and transit operators better manage their networks.
“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.”
— Professor Amnon Shashua, SVP of Intel and CEO / CTO of Mobileye
Amnon Shashua will join Moovit’s Board of Directors as an observer. Moovit plans to use the funds to expand its global sales team, enhancing its consumer products to support user growth and investing in its Mobility as a Service (MaaS) platform. The company expects to surpass 1 billion users by 2021 and to expand the number of cities. The company also has plans to collaborate with Mobileye, another Israeli startup recently acquired by Intel.