Volkswagen has become the latest carmaker to invest in on-demand mobility, providing $300m for ride hailing technology provider Gett.
Automotive manufacturer Volkswagen Group agreed yesterday to invest $300m in US-based ride ordering platform Gett as part of a partnership to jointly develop on-demand mobility services.
Gett operates an app that enables users to book taxis in 60 cities across the world including New York, London and Moscow. It also operates delivery and logistics services, as well as a specialist offering for corporate customers called Gett for Business.
Volkswagen formed a separate mobility services company last month, and Gett’s technology combines big data, predictive algorithms and artificial intelligence, which in theory would make it suitable to operate an autonomous taxi service.
Matthias Mueller, chairman of Volkswagen, said: “Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025.
“Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs.”
Gett has now raised more than $520m in venture funding since it was founded in Israel in 2010 as GetTaxi.
Conglomerate Access Industries led a $20m series B round in 2012 that also featured Gett founders Shahar Waiser and Roi More, and other investors include Vostok Nafta Investments, Kreos Capital and Capital Group Private Equity Managers.
