Friday, June 18, 2021
Home Startups Cape Town Tech Startup Secures $14.5-Million More in Funding

Cape Town Tech Startup Secures $14.5-Million More in Funding

Cape Town-founded mobility tech startup WhereIsMyTransport has secured a total of $14.5-million during a Series A extension round to continue its expansion. This is in addition to the R42-million ($3.09-million) in funding it received from South African media mega power Naspers.

The new funding was raised from investors including Google and Toyota.

This investment is part of a larger R201-million funding round led by Naspers Foundry, Cathay AfricInvest Innovation Fund, and SBI Investment writes VentureBurn.

“In emerging-market megacities, hundreds of millions of people use public transport to get where they need to go. Before WhereIsMyTransport, there was no central source of data for these networks, despite their size, scale, and importance,” reads a blurb on the startup’s official website.

“WhereIsMyTransport helps people understand mobility in emerging-market megacities. We’re trusted by industry leaders like Google, the World Bank, and WSP.”

Founded in Cape Town in 2015, the tech startup focusing on mobility creates data maps for formal and informal public transport networks in cities and uses this data and tech to improve the public transport experiences of commuters.

WhereIsMyTransport hopes to make public commutes more reliable, predictable, safe, inclusive and more accessible to individuals living in megacities in emerging economies in Africa, South and Southeast Asia and Latin America.

The startup will license its gathered mobility datasets to government, financial institutions, NGOs, operators and other solutions developers to be used towards research and analytics.

WhereIsMyTransport Eyes the World

In South Africa, WhereIsMyTransport counts the Gautrain as one of its clientele. International clients feature companies such as Google, the World Bank and many others.

“WhereIsMyTransport started in South Africa, focused on becoming a central source of accurate and reliable public transport data for high-growth markets. We’re thrilled to welcome Naspers as an investor as our journey continues in megacities across the Majority World,” says Devin de Vries, CEO and co-founder of WhereIsMyTransport, about the now-secured funding.

“Mobility remains an obstacle for billions of people in high-growth markets across the world,” says Phuthi Mahanyele-Dabengwa, South Africa CEO of Naspers, commenting on the importance of supporting innovations that address mobility issues.

“Our investment in WhereIsMyTransport is a testimony of our belief that great innovation and tech talent is found in South Africa, and with the right backing and support these businesses can provide solutions to local challenges that can improve the lives of ordinary people in South Africa and abroad,” they conclude.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Standard Bank Partners with Microsoft to Boost Innovation and Drive Growth in Africa

Yesterday, Standard Bank and Microsoft announced a strategic partnership to accelerate the digital transformation of Africa’s largest financial institution and further drive...

MTN to Launch OpenRAN Network in Africa

MTN Group is leveraging its expansive footprint across Africa to test and ultimately deploy OpenRAN – an innovative technology that will enable...

Hewlett Packard Launches Multi-Cloud Data Centre Solution in South Africa

Hewlett Packard Enterprise (HPE) has brought a new multi-cloud Platform-as-a-Service (PaaS) data centre solution to the South African market.

Kenyan foodtech startup Kune raises $1M pre-seed for its ready-to-eat meals service

While there has been a wave of innovation in food tech worldwide, it’s still in early days for Africa. There are only a...

Recent Comments

Obunseh patrick chukwuma. on Vote: Africa Corporate Brands Awards, 2020
Egbe Anyalewechi Malvin on Vote: Africa Corporate Brands Awards, 2020
Egbe Anyalewechi Malvin on Vote: Africa Corporate Brands Awards, 2020