Naspers co-leads $ 14.5 million extension round at mobility startup WhereIsMyTransport – TechCrunch
Many people in emerging markets depend on informal public transport to get around cities. But while there are ridesharing and bus apps in some of these cities, there is an urgent need for trip planning apps to improve user mobility and reduce the time they spend traveling..
The South African start-up WhereIsMyTransport is one of those companies that is filling this gap for the moment. Today, It announces $ 14.5 million Series A extension to further expand in emerging markets; the company is already present in South Africa and Mexico.
Naspers, through its investment arm, Naspers Foundry, co-led the investment with Cathay AfricInvest Innovation Fund. According to Naspers, the size of his check was $ 3 million. Japanese company SBI Investment also participated in the cycle.
The extension cycle comes a year after WhereIsMyTransport received a $ 7.5 million Series A investment from venture capital firms and a strategic investment from Google, Nedbank and Toyota Tsusho Corporation (TTC).
Devin de Vries, Chris King and Dave New launched the company in 2015. As a mobility startup, WhereIsMyTransport maps formal and informal public transport networks. The company then uses the data obtained to improve the transit experience, making commuting safe and accessible..
in addition to this, WhereIsMyTransport licenses some of this data to governments, DFIs, NGOs, operators and third party developers. He claims that is made for for research, analysis, information and consumer and enterprise solutions.
“WhereIsMyTransport started in South Africa, with the goal of becoming a central source of accurate and reliable public transport data for high growth markets.. We are delighted to welcome Naspers as an investor as our journey continues through the mega-cities of the majority world, ”CEO Devin de Vries said in a statement..
Last year when we covered the company, it had mapped 34 cities in Africa while actively mapping some in India, Southeast Asia and Latin America.. It has since expanded to Mexico City last November and has completed several data production projects in the city alongside Lima, Bangkok, Gauteng and Dhaka.. At present, the company has worked in 41 cities across 28 countries.
WhereIsMyTransport also launched its first consumer product Rumbo, which provides information on the network of all modes of public transport in Mexico with over 100,000 users delivering over 750,000 network alerts in real time. The company says there is plans to launch Rumbo in Lima, Peru, later this year.
For lead co-investor Naspers Foundry, this is the company’s first investment in mobility. So far, it has funded four other South African startups – Aerobotics, SweepSouth, Food Supply Network and The Student Hub – with a focus on the edtech, food and cleaning sectors..
“We couldn’t pass up the opportunity to support an extraordinary South African founder who has built his business here in Cape Town into a global market leader in formal and informal transport mapping with a strong focus on emerging markets. Said Fabian, director of Naspers Foundry. What TechCrunch said.
He also added that there is an overlap between mobility and the food and e-commerce businesses which appear to be the primary focus from Naspers’ perspective.. “Global food and e-commerce companies, which often operate in emerging markets, are very dependent on mobility solutions.. So there is a big overlap between what the Naspers group does and the vision of WhereIsMyTransport. “
In South Africa, WhereIsMyTransport customers include the Johannesburg Gautrain suburban rail system and Transport for Cape Town. On the other hand, its international customer base includes Google, the World Bank and WSP, and others.
South African CEO of Naspers Phuthi Mahanyele-Dabengwa said: “Mobility remains a barrier for billions of people in high growth markets around the world. Our investment in WhereIsMyTransport testifies to our conviction that great innovation and technological talents is found in South Africa, and with the right backing and backing, these companies can provide solutions to local challenges that can improve the lives of ordinary people in South Africa and abroad.. “