While the world moves forward steadily innovating smart cars and automated driving, it’s crucial to ensure cities have the infrastructure to properly support the most updated modes of transport. As such, Intel is said to be in talks to buy the Israeli app, Moovit, for a $1 billion investment. Moovit is a GPS tracking platform, integrating the public transportation system and schedule with real-time users in order to ease urban mobility. The app is steadily spreading to more cities around the world and plans to have over one million users by 2021.
In 2018, Intel invested $50 million in Moovit, who overall received an investment of $134 million. A year before in 2017, Intel bought Mobileye for $15.3 billion. Mobileye innovates hardware and software technologies that drive the future forward towards autonomous vehicles. With Intel taking stock of these two Israeli power companies, the future of urban mobility and self-driving cars seems imminent.
Amnon Shashua, CEO and Founder of Mobileye, who also sits on the board of Moovit, says that “with significant investments in automated driving, mobility management platforms, and smart infrastructure, Intel is at the forefront of a fundamental transformation of urban mobility. We’re working with some of the most innovative transit companies, municipalities, and transit authorities to build critical foundational technologies for this transformation. Moovit is one of the world’s leaders in public transit data and analytics. The combination of Mobileye’s and Moovit’s technology and data will be instrumental in making cities ready for autonomous vehicles.”