SA startup receives R25m in funding
DURBAN – WhereIsMyTransport, a public transport data and technology company incorporated in the UK has announced an investment of $1.85 million (R25.6 million)
The million dollar investment was from Liil Ventures and Goodwell Investments as part of its Series A funding round.
The investment has been secured as the company expands its digital mapping of formal and informally run public transport networks into new emerging markets.
Data for more than 30 major cities in emerging markets are now available on the WhereIsMyTransport integrated mobility data platform - an open API for mobility data and commuter services.
With the expansion into the Latin American market - facilitated by lead Series A investor Liil Ventures - the company wrapped up 2018 with its biggest data collection project to date.
Returning investor Goodwell Investments is joined by Liil Ventures, a Corporate Venture Capital fund in the mobility sector.
Speaking about the funding round, Devin de Vries, co-founder and Chief Executive at WhereIsMyTransport said, “We are delighted to welcome Liil Ventures to our global team, alongside trusted partner Goodwell Investments. Liil is an investor experienced in our sector, and a loud advocate for our market-leading technology".
Nadim Matuk Villazón, Investment Principal/Managing Team at Liil Ventures said, “WhereIsMyTransport is a promising team of Global Urban Innovators that helps governments in emerging markets to improve public transport networks and invest in better mobility services for everyone. We are excited to join the team and keep supporting resilience in emerging cities around the globe with reliable mobility data and technology.”
In recognition of its achievements in Africa and further afield, WhereIsMyTransport recently received an award for Innovation and Service Transformation from the State Information Technology Agency (SITA) and an award for Outstanding Achievement in Transport Innovation from the Intelligent Transport Society.
The award for Outstanding Achievement, from the Intelligent Transport Society (ITS), is given to transport organisations improving operational efficiency, reducing carbon emissions and making transport systems more accessible.
ITS is an organisation with a strategic aim in promoting the deployment of technology-driven transport solutions into Government. They work with the private and public sector to facilitate the creation of smart mobility solutions.
The award for Innovation and Service Transformation recognises startups that have used technology to improve the public transport service delivery to citizens.
SITA is an organisation that leverages Information Technology as a strategic resource for government, managing the IT procurement and delivery process to ensure that the South African government gets value for money, increased productivity; qualitative solutions, services and products.
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