WhereIsMyTransport Raises $14.5 Million in Series A Extension
This funding is additional to the $7.5 million raised in a Series A round in 2020, cementing the scale-up’s leading position at a time of unprecedented change for public transport in emerging markets.
7th June 2021
Mobility technology company WhereIsMyTransport has successfully closed the second funding round for capital to expand its already impressive portfolio of mobility data and solutions for emerging-market megacities. This brings the total raised by the company during its Series A funding to $22 million.
The funding infusion was led by Naspers Foundry, Cathay AfricInvest Innovation Fund, and SBI Investment, joining a notable list of existing investors, including giants like Google and Toyota Tsusho Corporation. The extension comes as WhereIsMyTransport deepens its mobility data offering in the Majority World, adding and maintaining complete network data from every mode of public transport in Bangkok, Mexico City, Lima, Dhaka and Gauteng, and on target to map more than 30 emerging-market megacities by 2023. Other participants in the extension are Samsung Ventures, Capria Ventures, Wuri Ventures, Mission Gate, B&Y, and KDDI Open Innovation Fund managed by Global Brain.
“Our initial round gave us the leverage we needed to enter new markets, and to broaden our reach. Securing additional funding now, as cities experience unparalleled changes to their mobility landscapes, is testament to the many opportunities that we create by producing accurate and reliable public transport data, and to our market-leading position,” says Devin de Vries, CEO and co-founder of WhereIsMyTransport. “More than ever, citizens and businesses in emerging markets need a central source of mobility data they can trust.”
Following closely on the news of the Series A extension is the launch of WhereIsMyTransport’s first consumer product, Rumbo, in Latin America. Leveraging the company’s unrivalled mobility data, the Android app is the first in these markets to provide network information from every mode of public transport. Rumbo has reached over 100,000 users and delivered over 750,000 real-time network alerts since launching in Mexico City in November 2020, and launches in Lima, Peru, later this year.