A South African Mobility Technology startup, WhereIsMyTransport, has raised $14.5 million in a Series A extension round. This brings the total amount raised by the company during its Series A funding to $22 million.
The funding round was led by Naspers Foundry, Cathay AfricInvest Innovation Fund, and Japan’s SBI Investment. Other participants in the extension are Capria Ventures, Wuri Ventures, Mission Gate, B&Y, and KDDI Open Innovation Fund managed by Global Brain.
Founded in 2016, WhereIsMyTransport helps people understand mobility in emerging-market megacities. The company maps formal and informal public transport networks and then uses this data obtained to improve the public transport experience, making commutes safe and accessible.
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.
This investment comes a year after the company raised a $7.5 million Series A round from investors including Google and Toyota Tsusho. The new funding round will be used to continue its expansion across emerging markets.
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What they are saying
Devin de Vries, CEO, and co-founder of WhereIsMyTransport said “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. More than ever, citizens and businesses in emerging markets need a central source of mobility data they can trust.”