The Israeli startup for urban mobility, Moovit has raised $50 million in funding, Series D round led by Intel Capital.
The round, which brings Moovit’s total funding to date to $ 133 million. All Moovit’s earlier investors participated, including Sequoia, BMW iVentures, NGP, Ashton Kutcher’s Sound Ventures, BRM, Gemini, Vaizra, Vintage, and newcomer Hanaco.
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Moovit’s free apps have the world’s largest reservoir of public transport data now used by 120 million people globally across 2,000 cities in 80 countries and generate 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.
As part of the current round, Mobileye, the $15.3 billion Intel Israeli subsidiary that builds autonomous driving solutions, will be partnering with Moovit to incorporate its data into Mobileye’s navigation system.
Professor Amnon Shashua, Senior Vice President of Intel and CEO and CTO of Mobileye, will join Moovit’s Board of Directors as an observer.
While the company not revealing its valuation, Techcrunch estimates Moovit’s valuation now well above $500 million post-money. The website says that in its last round in 2015 it was valued at $450 million, when it only had 15 million users, (versus 120 million today).
Moovit Co-founder and CEO Nir Erez said the company will expand 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.”
Mobileye’s co-founder Amnon Shashua said: “With significant investments in automated driving, mobility management platforms and smart
infrastructure, Intel is at the forefront of a fundamental transformation of urban mobility. We’re working with some of the most innovative transit companies, municipalities and transit authorities to build critical foundational technologies for this transformation,” Shashua continued.
“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.”
