Intel continues to invest in mobility services of all varieties, this time purchasing the Moovit app for $900 million. The company already invested in the Israeli-developed urban mobility startup back in 2018, but now acquired it entirely, Forbes reported on May 4th.
Over the years the cross-platform Moovit has gained almost 800 million users in 3,000 cities and 102 countries. It operates on combining data from public transportation services and offering the best available routes to its users, suggesting several options and criteria.
Moovit is expected to be a great companion to Mobileye, Intel’s subsidiary that develops the world’s leading vision technology for advanced driver-assistance systems (ADAS). Dominating the market for autonomous cars and robotaxi has always been one of their main goals.
Prof. Amnon Shashua, Intel’s senior vice president and president and chief executive officer of Mobileye made a lengthy welcome post in his blog, outlining the future plans:
“We developed a multimodal XaaS strategy that will enable Intel through Mobileye, and now including Moovit, to create a value proposition out of every layer of the solution stack – from the self-driving system as standalone, all the way up to the robotaxi service and experience.”
“This strategy is very nuanced and differs from every other company in this space.”