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Renault-Nissan-Mitsubishi invests in Transit to advance multi-modal transportation

Renault-Nissan-Mitsubishi has invested in the latest round of funding in Transit, a multi-modal transportation mobile app company based in Montreal, Canada.

This marks the latest technology investment by Alliance Ventures, launched earlier this year to support start-ups, early-stage development and entrepreneurs at the cutting edge of next-generation systems for the automotive industry.

We are pleased to make a strategic investment in Transit, the leading urban mobility navigation start-up in North America. This investment, which will advance Transit’s efforts to make mobility seamless and accessible in cities, fits with the Alliance 2022 strategy to become a leader in robo-vehicle ride-hailing mobility services and a provider of vehicles for public transit use and car-sharing.

—François Dossa, Alliance Global Vice President, Ventures and Open Innovation

Transit’s mobile app platform enables multi-modal transportation, integrating public transit, ride-hailing, bike-sharing, and scooter-sharing. By combining real-time data from transit agencies with user crowdsourcing, Transit provides the most accurate information.

Users enable GO, a function to get real-time notifications for their ride. Transit then tracks the real-time location of the vehicle and notifies the user when to leave for their stop, when to disembark, and sends adjusted ETAs.

The investment reflects the capability of Transit in advancing multi-modal transportation as new modes of mobility rapidly enter the market. Transit is seen as a leader in its field, servicing more than 175 metropolitan areas globally.

The company is based in Montréal, Québec. Investors include In-Motion Ventures, Accel, Real Ventures, Accomplice, BDC, and Renault-Nissan-Mitsubishi.

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