Moovit

Moovit — the Israeli developer of the mobile application of the same name for navigation. Service allows to plan a route on the city in real time and to monitor public transport service using artificial intelligence and Big Data. The audience of the application by the beginning of May, 2020 exceeds 800 million users in 3100 cities in 102 countries.

History

2020: Intel purchased Moovit for $900 million

On May 4, 2020 Intel announced purchase of Moovit for $900 million. This transaction expands a sphere of influence of the American corporation in Israel where it spent billions for acquisition of the companies and where it has a plant on production of chips.

Using developments of Moovit, Intel is going to take part in start of services of the automated taxi in some countries in 2022, among them — Israel, France and South Korea. 

Intel purchased Moovit company for development of the robotaxi

According to the TechCrunch edition, Moovit role in an automobile hub of Intel it is not clear yet, but use of the roads given about loading in real time and creation of routes definitely will help with start of work of pilotless transport.

According to forecasts of Mobileye company (is a part of Intel), by 2030 any market of transport services with attraction of the automated solutions will reach $230 billion. Robotic taxi alone by 2030 will create the market with turnover in $160 billion^[1]

After closing of the transaction on Moovit sale the company will join Mobileye, having saved the brand and the existing partnership, and her cofounder and current CEO Nir Erez will become the executive vice president of Mobileye.

Earlier Moovit already attracted investments of Intel Capital fund which acted as the leading investor in a round for $50 million Moovit also attracted investments of Vaizra Investments fund of entrepreneurs Vyacheslav Mirilashvili and Lev Leviyev. They were co-founders of VKontakte social network.

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