Israeli public transportation app Moovit has received an undisclosed amount of funding from Sound Ventures, the VC firm founded by Ashton Kutcher and U2 and Madonna manager Guy Oseary.
The funding was announced today at the Web Summit in Dublin. The money is intended to push the company’s growth in India and China.
“Investments like these help us to bring more public transit options to markets in need, like India and China, as well as to continue to strengthen our active community of editors around the world,” said CEO Nir Erez.
The app is now launching in four Chinese cities in Hong Kong, Beijing, Shanghai, and Guangzhou.
It also recently launched in India’s third largest city of eight million people, Bangalore and is expected to launch in three more Indian cities before the end of the year. The app said it has a great opportunity in India, owing to the lack of official data in many major cities.
The startup is currently active in over 700 cities globally with a community of 20,000 editors.
Founded in 2012, Moovit crowdsources data from citizens regarding public transport that helps in getting around the city in the best, most efficient way. The app also secured $50 million in Series C funding in January and recently announced that it was now the world’s largest local transport app and now with 30 million users worldwide.
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