Moovit Raises $50M In Funding Round Led By Intel, Will Partner With Mobileye

By NoCamels Team February 21, 2018 Comments

February 21, 2018 | Israeli public transit company Moovit has raised $50 million in a Series D funding round led by Intel Capital, the investment arm of Intel, the company announced. The Moovit app provides real-time information on the fastest public transportation routes (buses, trains and underground) and has 120 million users in 80 countries. Mobileye, the Israeli-founded company that developed sensors for self-driving cars and which was acquired by Intel for over $15 billion, will be partnering with Moovit to incorporate its public transport data into Mobileye’s navigation system. Mobileye co-founder Amnon Shashua, senior vice president at Intel Corporation, and CEO/CTO of Mobileye is joining Moovit’s Board of Directors as an observer, Moovit said in a press release. The company said all of its earlier investors including Sequoia, BMW iVentures, NGP, Ashton Kutcher’s Sound Ventures, BRM, Gemini, Vaizra, Vintage participated in the funding round, as well as newcomer Hanaco. Shashua said in a statement, “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.” Nir Erez, Moovit co-founder and CEO, said, “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. 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.”

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