Intel Purchases Israel’s Moovit Transit App for Nearly $1B
Mobileye CEO Amnon Shashua told Reuters.”Moovit is an acquisition that fills some very critical gaps that we have going forward,”. The primary goal, he told, was to create a small fleet of driverless taxis in states like Israel, France and South Korea.
Moovit has allocated $133 million from investors including Intel, BMW iVentures, and Sequoia Capital. Last month it started an emergency mobilization service, which was designed for transit agencies and enterprises during the Coronavirus pandemic.
The technology offered by the app transforms vehicle fleets into an on-demand service to get important employees safely to work and has been executed in a bunch of cities by great corporations. Intel has made notable investments already in Israel, having obtained autonomous vehicle technology provider Mobileye for $15.3 billion in 2017. In December it bought Israeli artificial intelligence firm Habana Labs for $2 billion.