InMotion Backs Transit - The All-In-One Mobility Platform
InMotion Ventures, Jaguar Land Rover’s venture capital fund, has invested in Montreal-based journey planner app, Transit.
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Transit helps people navigate and make better transport decisions in more than 175 cities worldwide. The app has integrated a range of mobility options including Uber, bike share, car share, public transport and walking. Users can quickly compare all the available options to find the best way from A to B without their car. Transit also enables integrated payments, allowing users to book and pay for car share, ridehail, bike share, and soon, transit trips.
InMotion Ventures invested alongside Alliance Ventures - the venture capital fund for Renault, Nissan and Mitsubishi - and Transit’s existing investors Accel and Real Ventures.
The backing will support Transit to reach their ultimate goal of becoming the one-stop-shop for on-demand transport services in cities globally. The aim is to allow users to plan and pay for all bike sharing, ride hailing and public transport services directly through the app.
"The changing face of urban transport has never been as visible with the proliferation of bikes, scooters and mopeds in global cities over the last couple of years. With more on-demand transport options than ever, we believe Transit has a key role to play in helping users navigate the city effectively and simplify payments. We are excited to be working with the Transit team as they shape the face of urban transportation." - Sebastian Peck, Managing Director, InMotion Ventures
"New modes of mobility are entering the market at record speeds. It took decades for car-sharing to catch on. Now, e-bikes and scooters are being rolled out in weeks. The funds raised will help us grow, as we deepen our partnerships with transport operators and increase the variety of on-demand services available through the app. This is an exciting time, as Transit helps people navigate their new mobility options." - Sam Vermette, Co-Founder and CEO, Transit
