Sound Ventures, Ashton Kutcher & Guy Oseary’s VC firm announce investment in world’s #1 local transit app

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Today at 12.30pm on Machine Stage, Nir Erez, CEO of the #1 local transit app in the world, Moovit took the stage. He announced that the company has just received investment from Sound Ventures, a VC firm founded by Ashton Kutcher and Guy Oseary (talent manager for both Madonna and U2).

Machine Stage at Web Summit

It’s been said that Moovit have already surpassed Google Maps and other competitors. This investment will undoubtedly accelerate Moovit’s growth in the Indian and Chinese markets.

With London’s recent transport strike, Moovit was able to provide different alternatives for people to get from point A to point B. A great example on how a city becomes smarter by data and alerts created by the community.

Sound Ventures launched just last year and has already invested in Airbnb, Uber and Spotify.

We’re particularly interested in Moovit as they have recently launched in Bengaluru. We’re heading there in February for our first conference in India. Impressively, Moovit expects to launch three more cities in India, before the end of the year.

Machine Stage

We’ll also see them at RISE in Hong Kong, along with Shanghai, Guangzhou and Beijing.

Are we forgetting Google Maps? Is this the new, quickest way to get around your city? Check out the Web Summit schedule to make sure you don’t miss any great talks.

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