Alliance Ventures invests in Transit to advance multi-modal transportation and Mobility-As-A-Service technique

Alliance Ventures, the strategic enterprise capital arm of Renault-Nissan-Mitsubishi, has introduced at present that it has invested within the newest spherical of funding in Transit, a multi-modal transportation cell app firm based mostly in Montreal, Canada. This marks the most recent expertise funding by Alliance Ventures, launched earlier this yr to assist start-ups, early-stage improvement and entrepreneurs on the slicing fringe of next-generation methods for the automotive business.

François Dossa, Alliance International Vice President, Ventures and Open innovation, mentioned: “We're happy to make a strategic funding in Transit, the main city mobility navigation start-up in North America. This funding, which can advance Transit’s efforts to make mobility seamless and accessible in cities, matches with the Alliance 2022 technique to develop into a frontrunner in robo-vehicle ride-hailing mobility companies and a supplier of automobiles for public transit use and car-sharing.”

Sam Vermette, chief govt of Transit, added: “New modes of mobility are getting into the market at file speeds. It took a long time for car-sharing to catch on. Now, e-bikes and scooters are being rolled out in weeks. That is an thrilling time, as Transit helps folks navigate their new mobility choices. We sit up for working carefully with Renault-Nissan-Mitsubishi as Transit grows."

Transit’s cell app platform permits multi-modal transportation, integrating public transit, ride-hailing, bike-sharing, and scooter-sharing. By combining real-time information from transit companies with person crowdsourcing, Transit gives essentially the most correct info. Customers allow GO, a operate to get real-time notifications for his or her journey. Transit then tracks the real-time location of the car and notifies the person when to depart for his or her cease, when to disembark, and sends adjusted ETAs. The funding displays the aptitude of Transit in advancing multi-modal transportation as new modes of mobility quickly enter the market. Transit is seen as a frontrunner in its discipline, servicing greater than 175 metropolitan areas globally.

ABOUT TRANSIT

Transit solves the city commute in additional than 175 cities worldwide. Customers can simply navigate public transit with correct real-time predictions, easy journey planning, and step-by-step navigation. The app additionally integrates different transport modes — bikeshare, scooters, carshare and ridehail — so customers can decide the easiest way to get from A to B. The corporate relies in Montréal, Québec. Traders embrace In-Movement Ventures, Accel, Actual Ventures, Confederate, BDC, and Renault-Nissan-Mitsubishi.
http://www.transitapp.com

ABOUT RENAULT-NISSAN-MITSUBISHI

Groupe Renault, Nissan Motor Firm and Mitsubishi Motors symbolize the world’s largest automotive alliance. It's the longest-lasting and most efficient cross-cultural partnership within the auto business. Collectively, the companions bought greater than 10.6 million automobiles in almost 200 nations in 2017. The member corporations are centered on collaboration and maximizing synergies to spice up competitiveness. They've strategic collaborations with different automotive teams, together with Germany’s Daimler and China’s Dongfeng. This strategic alliance is the business chief in zero-emission automobiles and is growing the most recent superior applied sciences, with plans to supply autonomous drive, connectivity options and companies on a variety of reasonably priced automobiles.

www.alliance-2022.com
www.media.renault.com
newsroom.nissan-global.com
www.mitsubishi-motors.com/en/newsrelease/

MEDIA CONTACTS

Caroline Sasia
Alliance Communications, Renault-Nissan-Mitsubishi
+33 (zero) 6 11 30 36 71
caroline.sasia-lallier@alliance-rnm.com