WhereIsMyTransport, a company focused on addressing mobility challenges in emerging markets, has raised $14.5 million in funding. The funding round was led by Naspers Foundry, Cathay AfricInvest Innovation Fund, and SBI Investment, with participation from existing investors such as Google and Toyota Tsusho.
WhereIsMyTransport utilizes data and technology to map public transport networks and improve daily travel for over 300 million commuters in emerging market cities. In these markets, transport is unreliable, and informal (unmapped, privately-operated) modes of transport constitute up to 90% of the total network.
The company has developed a globally recognized playbook for collecting mobility data in emerging markets, mapping over 1 million kilometers of routes in 40 cities across four continents. They have also launched their first consumer product, Rumbo, in Latin America, which provides network information from every mode of public transport. Rumbo has gained over 100,000 users and delivered more than 750,000 real-time network alerts since its launch in Mexico City.
Thanks to the fund raising, WhereIsMyTransport will expand its mobility data offering in the Majority World, aiming to map more than 30 emerging market megacities by 2023. The funding will enable the company to enter new markets and enhance its market-leading position in providing accurate and reliable public transport data for citizens and businesses in emerging markets.