Naspers invests R42m into transport-focused mobile tech firm
Naspers announced a R42-million (US$3-million) investment in Cape Town-founded, WhereIsMyTransport through its early-stage tech investment vehicle.
In a statement released to the media the company said the investment is part of a R201-million (US$14.5-million) funding round led by Naspers Foundry, Cathay AfricInvest Innovation Fund, and SBI Investment.
WhereIsMyTransport is described as 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 millions of people in highly populated megacities.”
The tech firm licences these mobility datasets to governments, development finance institutions, NGOs, operators and third-party solution developers for the purpose of research, analytics, insights and consumer and enterprise solutions.
Its aim is to develop solutions that provide commuters in Africa, South Asia, Southeast 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, Johannesburg commuter rail system Gautrain and Transport for Cape Town, and as part of its international client base Google, the World Bank and WSP along with others.
Phuthi Mahanyele-Dabengwa, South Africa CEO of Naspers, said: “Mobility remains an obstacle for billions of people in high-growth markets across the world. Our investment in WhereIsMyTransport is 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.”
Fabian Whate, Head of Naspers Foundry, said: “WhereIsMyTransport has a strong track record of developing the best-in-class technology in improving the daily commutes of people across the world. 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.”
Devin de Vries, WhereIsMyTransport CEO and Co-founder said: "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."
Through Prosus Ventures, Naspers invested in European micro-mobility company Dott in 2018, with a follow-on investment this year and in Pakistan-based on-demand transport and logistics company Bykea in 2020.