Ayodeji Ayenuwa
In a significant development, the South African mobility startup WhereIsMyTransport has ceased operations, citing its inability to secure new funding.
This decision, announced by the founder, Devin De Fries, marks the end of a journey that saw the startup raise over $27 million in funding and expand to 140 locations across 22 countries.
The core mission of WhereIsMyTransport was to map both formal and informal public transportation networks with a vision to enhance the public transportation experience, emphasizing safety and accessibility.
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The founder expressed gratitude, saying, “Thank you to the investors who backed us along the way – without you, our work would not have been possible. Thank you to the team who gave the best of themselves to support our mission.”
As of May 2022, the company had successfully mapped 50 cities spanning Africa, Latin America, Southeast Europe, and Asia. Notable among its clients was the World Bank, which utilized the startup’s data to assess the role of public transport in job accessibility within 12 African cities.
WhereIsMyTransport had previous associations with Naspers Foundry, which is now defunct, and had secured $3 million in funding from the fund as part of its $14.5 million Series A extension.
The startup’s investor base included Cathay AfricInvest Innovation Fund, SBI Investment from Japan, Wuri Ventures, Capria Ventures, Nedbank, Global Innovation Fund, Goodwell Investments, Google, and Toyota Tsusho.
This development emphasizes the challenges faced by startups in raising the necessary capital to sustain their operations and realize their mission.
Techrectory with Agency Report.
