Gett Struggles To Raise Funds From Investors

October 23, 2017 | Israeli-founded taxi app Gett is worried that their most significant investor Volkswagen AG, has decided not to commit to the company’ s latest round of funding at the present time, a Bloomberg report said. The report states that new investors are uncertain about helping to fund Gett until Volkswagen commits to the round. There are a few options on the table. It’s possible that Volkswagen may decide to invest later on. Gett may also split the round into two parts so that have investors who passed earlier on can opt back in. Gett is considering the later stage to be in December, according to Bloomberg. The German car company has already invested $300 million into the Tel Aviv-based taxi app. The report says that Volkwagen is looking into the backing of its own tech in order to catch up with its rivals in the digital space, rather than focus on traditional car manufacturing as it did in the past. Gett was founded in 2010 by Roi More and Dave Waiser.