South Africa’s Mobility technology company WhereIsMyTransport has successfully closed the second funding round for capital raising US$14.5 million 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 US$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 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.
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.