ALLIANCE VENTURES INVESTS IN TRANSIT TO ADVANCE MULTI-MODAL TRANSPORTATION AND MOBILITY-AS-A-SERVICE STRATEGY
Summary
Transit’s mobile app aggregates and maps real-time transportation data, functional in more than 175 metropolitan areas around the world. This marks the latest technology investment by Alliance Ventures, launched earlier this year to support start-ups, early-stage development and entrepreneurs at the cutting edge of next-generation systems for the automotive industry. François Dossa, Alliance Global Vice President, Ventures and Open innovation, said: “We are pleased to make a strategic investment in Transit, the leading urban mobility navigation start-up in North America. Transit then tracks the real-time location of the vehicle and notifies the user when to leave for their stop, when to disembark, and sends adjusted ETAs. The investment reflects the capability of Transit in advancing multi-modal transportation as new modes of mobility rapidly enter the market.