2 min

Intel acquires startup Moovit for $900 million

It’s official: the American giant has just announced the acquisition of Moovit. Founded in 2012, the Israeli start-up is known as an urban route planner. Today, it is also considered one of the leading providers of MaaS solutions for local authorities. Following its acquisition of Mobileye in 2017 for $15.3 billion, Intel now wants to strengthen its offer of robotic taxis and Mobility as a Service. Zoom on the challenges of this new acquisition.

Moovit, leader in urban mobility

Probably you’re one of the 800 million users. Present in more than 102 countries, the mobile application is mainly specialized in public transport trip planning. Named the best local application of 2016 by Google and the best application of 2017 by Apple, the start-up has always been looking to expand its services. In particular, in the integration of multimodal trips by bicycle, taxi, carpooling or even car with driver with Uber.

Thanks to its experience, it is now a MaaS (Mobility as a Service) player. It supports local authorities in deploying their own MaaS application under a white label. A new offer that has won over many cities and investors. In fact, in Series D in February 2018, the young Israeli company has already raised $131.5 million. Among the main investors were already Intel and Intel Capital. But also Sound Ventures, Hanaco Ventures Capital, Gemini Israel Ventures, Rainfall Ventures and BRM Capital.

The missing piece of Mobileye

Bought by Intel in 2017, Mobileye is known mainly for developing anti-collision systems, driver assistance systems and autonomous cars. Innovative systems deployed on nearly 60 million vehicles, with the help of 25 partner car manufacturers. Today, Mobileye’s goal is to create its own range of robotic taxis. When you say taxis, you think reservations. And that’s where Moovit will come in to move from application to vehicle.

© Intel

With this acquisition, Mobileye will be able to take advantage of Moovit’s large transport database. Mobileye will be able to take advantage of Moovit’s large transport database to optimize its predictive technologies based on customer demand and traffic. As pointed out by Amnon Shashua, CEO of Mobileye, “Moovit is a brand recognized by hundreds of millions of people around the world. With Mobileye’s extensive capabilities in mapping and auto-driving technology, we will be able to accelerate our plans to transform the future of mobility. A market for MaaS, data and ADAS, which according to Intel’s press release “represent an opportunity totalling more than $230 billion by 2030. ».