WhereIsMyTransport completes the second closing of its Series A Round
MJ Hudson Law advised long standing client WhereIsMyTransport (“WIMT”) on the investment of approximately USD 7.5m by existing and new investors led by Google and Toyota Tsusho Corporation, in the form of both a primary investment and a secondary sale by existing angel investors, as part of a transaction that also saw WIMT conclude strategic collaborations with its exciting new commercial partners.
WIMT has made a significant impact in the urban transportation sector across emerging markets. With the aim of solving the endemic problem of poor access to mobility options for many people in emerging markets, it has used its data collection and analytical expertise to create a peerless solution to map both formal and informal transport networks in emerging market cities, integrate this into its open data platform, and push for the improvement of transit networks in those areas which need them most.
The equity investment and the commercial partnerships will enable WIMT to develop its global offering and expand its growing presence in emerging markets, as it aims to bring the formal and informal transport space together for the benefit of commuters, operators and municipal authorities across the globe.
Devin de Vries, founder of WIMT, commented: “It’s been a pleasure working with the MJH Ventures team who, since our 2015 UK founding, has been both counsel and partner to the business through every stage of growth, thick and thin, and on this deal in particular were superb in execution and managing stakeholders, while always keeping the broader strategic picture front and centre. Karma, David and the rest of the MJH team have been invaluable in supporting our efforts, and we look forward to working together in the future as the business grows”.
The MJ Hudson venture capital team have assisted WIMT from its establishment and have advised in relation to all its fundraising efforts to date, as well as acting as trusted adviser generally in respect of its corporate and commercial requirements. The transaction highlights MJ Hudson’s venture capital team’s expertise advising in relation to complex transactions across multiple jurisdictions and negotiating with a diverse stakeholder base.
Karma Samdup, MJ Hudson co-managing partner and head of its venture capital practice, commented: “We at MJ Hudson are delighted to have helped WhereIsMyTransport to open a thrilling new chapter in its already impressive story. Devin and team have built a fantastic proposition aimed at bringing about real change in emerging markets and, with the support of its exciting new strategic partners, it is a huge step closer to achieving its ambitions”.
The MJ Hudson team was led by Karma Samdup (co-managing partner), supported by Andrew Pannell (partner), David Harris (associate), and Robert Davidson (trainee solicitor).