Naspers takes part in R200m funding round in WhereIsMyTransport

Along with fellow investors Cathay AfricInvest Innovation Fund and SBI Investment.
Image: REUTERS/Siphiwe Sibeko

Naspers is participating in a R201-million funding round involving Cape Town-founded start-up WhereIsMyTransport, along with fellow investors Cathay AfricInvest Innovation Fund and SBI Investment.

Naspers Foundry stumped up about R42 million of the funding round in the company, which maps formal and informal public transport networks and uses this data and technology to improve the public transport experience.

Moneyweb Insider INSIDERGOLD

Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.

Choose an option:

R63 per month
R630 per year SAVE R126

You will be redirected to a checkout page.
To view all features and options, click here.

A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee.
A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership.

Click here for more information.

The company licenses these “mobility datasets” to governments, development finance institutions, nongovernmental organisations, operators and third-party solution developers for the purpose of research, analytics and insights, and developing consumer and enterprise solutions.

Its aim is to develop solutions that provide commuters in Africa, South Asia, Southeast Asia and Latin America with real-time public transport network alerts, to improve their mobility and reduce the time they spend commuting.

Its South African clients have included the Gautrain and Transport for Cape Town. International clients include Google and the World Bank.

WhereIsMyTransport launched its first consumer product, Rumbo, in Latin America recently. “Rumbo is the first to provide network information from all modes of public transport in this market and has over 100 000 users and delivered over 750 000 real-time network alerts since its launch in Mexico City in November 2020. The app will be launched in Lima, Peru later this year,” Naspers said.  — © 2021 NewsCentral Media

Duncan McLeod is Editor of TechCentral, on which this article was first published here.

Please consider contributing as little as R20 in appreciation of our quality independent financial journalism.

AUTHOR PROFILE

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: