Ashton Kutcher fund invests in Israeli co Moovit
The investment will be used to expand the public transit app’s coverage to India and China.
Public transport app co Moovit raises $50m
Moovit will use the funding to accelerate its growth in developing markets like India and China. The transit app uses crowdsourced data to fill in the gaps from the static information provided by local authorities, which is especially beneficial in cities that do not have “readily available public transit data” like Bangalore.
The company hopes to launch its services in three more Indian cities and four Chinese cities: Hong Kong, Shanghai, Guangzhou, and Beijing.
“We’re extremely proud to have Sound Ventures behind us as we continue to grow rapidly,” said CEO Nir Erez. “Investments like these help us to bring more public transit options to markets in need, like India and China, as well as to continue to strengthen our active community of editors around the world.”
Sound Ventures, launched in
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