Naspers invest R42 million in WhereIsMyTransport, a Cape Town-based mobility technology startup that wants to make it easier for commuters to use public transportation.
Naspers said the investment is part of an R201 million funding round led by Naspers Foundry, Cathay AfricInvest Innovation Fund, and SBI Investment, according to a statement released on Monday. The group’s startup investment effort, Naspers Foundry, focuses on South African technology innovators.
“WhereIsMyTransport is a mobility technology firm that maps official and informal public transportation networks and uses this data and technology to improve the public transportation experience for millions of people in heavily congested megacities,” according to the statement.
Commuters throughout Africa, South Asia, Southeast Asia, and Latin America can get real-time public transportation network alerts from the startup. This is targeted at boosting their mobility and lowering the time they spend commuting, according to Naspers.
The startup’s goal is to become a central source of “accurate and reliable” public transport data for high-growth markets, according to WhereIsMyTransport CEO Devin de Vries.
https://thekosibay.co.za/891/politics/president-jacob-zuma-to-address-the-nation/
Governments, development finance institutions, NGOs, and operators, among others, can license mobility datasets from WhereIsMyTransport. The Gautrain in Johannesburg and Transport for Cape Town are two of its South African clients. Rumbo will debut in Mexico City in November 2020. Customers in the Latin American market can use the app to get network information.
“WhereIsMyTransport has a strong track record of developing the best-in-class technology in improving the daily commutes of people across the world.
“The mobility technology company is a terrific addition to the Naspers Foundry investment portfolio, and we look forward to collaborating and Naspers invest R42 million with the WhereIsMyTransport team as they grow their business,” said Fabian Whate, head of Naspers Foundry.
https://thekosibay.co.za/866/business-and-finance/ways-to-securely-invest-r80-000-today/
