South African-based mobility company, WhereIsMyTransport, has recorded a successful funding round of US$14.5 million in the extension phase of its series A funding round.
The Mobility technology company reveals that the funds would be used to expand its already impressive portfolio of mobility data and solutions for emerging-market mega cities.
The funding round was led by investment companies like Naspers Foundry, Cathay AfricInvest Innovation Fund, and SBI Investment.
Other participants in the funding round are Capria Ventures, Wuri Ventures, Mission Gate, B&Y, and KDDI Open Innovation Fund managed by Global Brain.
The participants joined a list of existing investors, including Google and Toyota Tsusho Corporation.
According to the WhereIsMyTransport, the funding becomes important as it make moves to deepen its mobility data offering in the Majority World.
The start-up is also working on 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.
Commenting on the fundraising, Devin de Vries, CEO and co-founder of WhereIsMyTransport said that:
“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.”
WhereIsMyTransport also launched its 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.
So far, the WhereIsMyTransport has raised a total of US$22 million, cumulating from the Series A funding, and its extension.