Finance

WhereIsMyTransport raises $14.5 million Series A round for emerging markets expansion

Tuesday, 08 June 2021 11:39
WhereIsMyTransport raises $14.5 million Series A round for emerging markets expansion

(Ecofin Agency) - South African-founded startup WhereIsMyTransport, has raised $201 million (about $14.5 million) in a Series A round. The company actively present in South Africa and Mexico aims to continue its expansion across emerging markets with this new round of funding.

Naspers, through its investment arm, Naspers Foundry, led the founding round with participation from Cathay AfricInvest Innovation Fund, and Japan’s SBI Investment. Of the total amount raised, Naspers Foundry is committing R42 million (about $3 million).

WhereIsMyTransport, a mobility technology company that maps formal and informal public transport networks has clients including Johannesburg commuter rail system Gautrain, and Transport for Cape Town. As of last year, the company has mapped 34 cities with over 100,000 users in Africa.

WhereIsMyTransport is funded by 13 investors. Naspers, Cathay AfricInvest Innovation Fund, and SBI Investment join Global Brain Corporation and Google as the most recent investors.

“Mobility remains an obstacle for billions of people in high-growth markets across the world. 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 and can improve the lives of ordinary people in South Africa and abroad,” said Phuthi Mahanyele-Dabengwa, Naspers CEO.

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