BMW Group participation, MOOVIT traffic map won 50 million dollars

Using crowdsourcing to make public transport map patterns we've had introductions before, Waze and Moovit are all cases. Later Waze was bought by Google, integrated into the Google Maps function, Moovit in 13 to get 28 million dollars in financing.

Recently, according to VentureBeat News, Moovit also won a round of 50 million U.S. dollars of financing, participating institutions including Nokia substituting, Keolis, Bernard Arnault Group, Vaizra Investments. With the help of the C-round financing, the company's valuation has reached 450 million dollars.

After entering the starting and ending points, the Moovit will filter out the matching public transportation routes, and send the users information on the load information and punctuality of the vehicles on the line, so as to facilitate the preparation of the change trip plan in advance.

How did Moovit get this information?

Moovit the smartphone user on the road into a personal meat information collection and transmitter, collecting traffic information and sending it to users in the community. Because the focus is on public transport, in addition to data uploaded by users, Moovit also gets information from public sources, such as timetables for train stations and bus stations, taxis, parking spaces and car-sharing services.

Moovit says there are about 15 million users in his own community, twice times the number 6 months ago. In terms of size, Moovit currently supports more than 60 cities in the United States, more than 500 regions worldwide. The new round of financing will be moovit to improve products, expand the size of the community, and increase the number of users.

It is worth mentioning that the financing of the participating institutions included BMW I ventures. BMW's own car, but also to help make public transport, in fact, their i3 series of electric vehicles built in the Navigator also supports public transport options to facilitate users to stop and change buses, railway trains and other public transport. With this investment, BMW's BMW I brand will further expand its development in the field of innovative mobile services.

Currently Moovit's main competitors include Google Maps, Citymapper and Transitapp.