Moovit has established its leadership in the MaaS space with more than 800 million users and services in 3,100 cities across 102 countries. Moovit
Intel Corporation acquired Moovit for approximately $900 million. Moovit is known for its urban mobility application that offers travelers around the world multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing.
The addition of Moovit brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.
Moovit has established its leadership in the MaaS space with more than 800 million users and services in 3,100 cities across 102 countries. Today, Mobileye is the leading automotive solutions partner that enables advanced driver-assistance systems (ADAS) deployed on nearly 60 million vehicles with more than 25 automaker partners.
Mobileye is a growth engine for Intel as the company transforms for a world where the exponential growth of data fuels demand for technology solutions that can process, move, and store more data faster. Intel is investing and expanding to serve new data-rich market opportunities, including the fast-growing market for ADAS, data, and MaaS technologies, which together represent an opportunity totaling more than $230 billion by 2030. Upon close, Moovit will join the Mobileye business while retaining its brand and existing partnerships.
Moovit was founded in 2012 and is based in Tel Aviv, with approximately 200 employees. Moovit combines information from public transit operators and authorities with live information from the user community to offer travelers a real-time picture of the best route for their journey. In the past 24 months, the company has achieved a seven-times increase in users. Moovit has also signed strategic partnership agreements with major ride-sharing operators and mobility ecosystem companies for analytics, routing, optimization and operations for MaaS. With this acquisition, Mobileye will be able to use Moovit’s large proprietary transportation dataset to optimize predictive technologies based on customer demand and traffic patterns, as well as tap into the company’s transit data repository of more than 7,500 key transit agencies and operators, and improve the consumer experience for more than 800 million users worldwide. Moovit’s consumer applications and user experience will continue under its own brand.
Intel acquired Mobileye in 2017. Since then, Mobileye revenues have more than doubled on the increased adoption of ADAS based on Mobileye’s industry-leading technology. The company’s vision-safety technology aims to make roads safer, reduce traffic congestion and save lives. Mobileye provides a complete autonomous vehicle solution stack that is technically advanced, provides unmatched agility and safety, and copes with a wide variety of driving complexities.
Mobileye’s business model encompasses the entire automated driving value chain, including the front-facing camera that powers most of today’s ADAS, conditional autonomy — also known as level 2+ — and the self-driving system (SDS) for self-driving shuttles and robotaxis as well as consumer autonomous vehicles (AVs). Mobileye has strong performance in every one of these categories with advanced vision sensing technology, crowd-sourced mapping capability (REM) and the Responsibility-Sensitive Safety (RSS) driving policy.
By working together as part of Intel and Mobileye, Moovit will advance the company’s MaaS strategy and the global adoption of autonomous transportation.
Originally posted on Metro Magazine