Naspers invests R42 million in Cape-founded tech company

Naspers has announced a R42 million investment in Cape Town-founded, WhereIsMyTransport through its early-stage tech investment vehicle.

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.

It aims to make the public commute more reliable, predictable, safe, inclusive and accessible for millions of people in highly populated megacities.

It 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.

WhereIsMyTransport also recently launched its first consumer product, Rumbo, in Latin America.

Rumbo is the first to provide network information from all modes of public transport in this market and has over 100,000 users and delivered over 750,000 real-time network alerts since its launch in Mexico City in November 2020. The app will be launched in Lima, Peru later this year.

In South Africa, WhereIsMyTransport’s clients include, among others, Johannesburg commuter rail system Gautrain, and Transport for Cape Town. Part of its international client base, it’s worked for Google, the World Bank and WSP.

“Mobility remains an obstacle for billions of people in high-growth markets across the world,” said Phuthi Mahanyele-Dabengwa, South Africa chief executive of Naspers.

“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.”

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Naspers invests R42 million in Cape-founded tech company