Moovit raises $50M to expand urban mobility operating system
All of the company's earlier investors participated, including Sequoia, BMW iVentures, NGP, Ashton Kutcher’s Sound Ventures, BRM, Gemini, Vaizra, Vintage, and newcomer Hanaco.
Moovit App Global Ltd. closed a $50 million Series D round led by Intel Capital. All Moovit’s earlier investors participated, including Sequoia, BMW iVentures, NGP, Ashton Kutcher’s Sound Ventures, BRM, Gemini, Vaizra, Vintage, and newcomer Hanaco.
Moovit’s free app provides comprehensive transit information to more than 120 million users in more than 2,000 cities in 80 countries. The company has amassed the world’s largest repository of transit data and generates more than one billion movement data points a day. Moovit shaped its data into the Smart Transit Suite to help municipalities and transit operators better manage their networks.
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Professor Amnon Shashua, sr. VP of Intel and CEO/CTO of Mobileye, will join Moovit’s board of directors as an observer.
Moovit Co-Founder/CEO Nir Erez said the company will use the funds to continue its mission to be part of every urban mobility trip. This includes expanding its global sales team, enhancing its consumer products to support user growth, and investing in its Mobility as a Service (MaaS) platform.
“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,” Erez said. “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.”
The infusion of capital brings to $133 million the total raised by Moovit.
A major goal of the pilot, which begins in April, is to test the speed, functionality, and durability of new handheld devices to scan Ventra and paper tickets.
Traditionally, bus lane enforcement has relied on manual processes carried out by transit police or parking enforcement officers. While it may be effective in certain municipalities, this approach is resource-intensive and very difficult to sustain.
A phased approach to technology, in-house capabilities, and workforce investment is helping transportation leaders break the reactive cycle and build more resilient, revenue-focused operations.
The landmark event empowers riders across six agencies in the Puget Sound region to tap-and-ride transit using a contactless credit or debit card or a mobile wallet.
Now in its latest edition, the awards recognize forward-thinking solutions that improve safety, operational efficiency, sustainability, rider experience, and overall system performance.
Menard discusses how data-driven signal prioritization is improving efficiency, reliability, and ridership, while offering insight into the innovations driving the next generation of smart mobility. Together, they explore how technology and collaboration are paving the way for a more connected, sustainable future in transit.
The pilot program showcases two companies’ technology at eight bus stops. The companies submitted their ideas through the Transit Tech Lab, which is backed by the Partnership Fund for New York City and provides an accelerated pathway for early to growth-stage companies to solve public transportation challenges for the largest transit agencies in North America.
