Dude, there’s the bus! Actor Ashton Kutcher and talent manager Guy Oseary’s venture capital firm, Sound Ventures, has announced an investment in the Israeli Moovit transit app.
Moovit, which dubs itself as the top transit app in the world with service in over 700 cities, says it will use this investment to advance its growth in promising markets like India and China.
“We’re extremely proud to have Sound Ventures behind us as we continue to grow rapidly,” said Nir Erez, CEO of Moovit. “Investments like these help us to bring more public transit options to markets in need, like India and China, as well as to continue to strengthen our active community of editors around the world.”
Sound Ventures launched at SXSW in Austin, TX in March of this year. The company has invested in numerous other successful technology companies, including Airbnb, Uber, Spotify, Houzz and Zenefits.
Moovit says it is expecting to launch three more cities in India before the end of the year and is now also publicly launching four cities in China: Hong Kong, Shanghai, Guangzhou and Beijing.
Moovit was launched in 2012. Other investors include Nokia Growth Partners, BMW i Ventures, Keolis, Bernard Arnault Group, Vaizra Investments, BRM Group, Gemini Partners and Sequoia Capital.