Naspers has announced a R42-million investment in Cape Town-based WhereIsMyTransport.
The investment is part of a R201-million funding round led by Naspers Foundry, Cathay AfricInvest Innovation Fund and SBI Investment.
WhereIsMyTransport is a mobility technology company that maps formal and informal public transport networks and uses this data and technology to improve the public transport experience, making the public commute more reliable, predictable, safe, inclusive and accessible for people in highly populated megacities, says Naspers in a statement.
WhereIsMyTransport licenses these mobility datasets to governments, development finance institutions, nongovernmental organisations, operators and third-party solution developers for the purpose of research, analytics, insights and consumer and enterprise solutions.
The aim is to develop solutions that provide commuters in Africa, South Asia, South-East Asia and Latin America with real-time public transport network alerts, to improve their mobility and reduce the time they spend commuting.
In South Africa, WhereIsMyTransport’s clients included, among others, commuter rail system Gautrain and Transport for Cape Town. Its international client base includes Google, the World Bank and WSP, among others.
“Mobility remains an obstacle for billions of people in high-growth markets across the world,” says Naspers South Africa CEO Phuthi Mahanyele-Dabengwa.
“Our investment in WhereIsMyTransport is testimony of our belief that great innovation and tech talent [are] 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.”
WhereIsMyTransport has a strong track record of developing the best-in-class technology in improving the daily commutes of people across the world, adds Naspers Foundry head Fabian Whate.
“The mobility technology company is a great addition to the Naspers Foundry investment portfolio and we look forward to working with the WhereIsMyTransport team as they take their business to the next level.”
“WhereIsMyTransport started in South Africa, and focused on becoming a central source of . . . reliable public transport data for high-growth markets,” notes WhereIsMyTransport CEO Devin de Vries.