It is not the first time that Intel goes shopping in Israel to increase its assets in the area of mobility and autonomous cars. Now, as Techcrunch says, Intel wants to buy Moovit for $ 1 billion. A startup valued at $ 500 million.
The first experience focused on Mobileye technology to make almost any car a standalone model. For $ 15 billion, the Israeli startup that took Barcelona as one of its study laboratories was integrated into the American giant in 2017. Now Intel’s interest would be focused on completing the technology acquired from the hand of another Israeli startup.
According to the North American media, several reports would point not only to the idea that Intel wants to buy Moovit, but that de facto it would already be in the last stages of the operation. The operation would be announced in the coming days.
Dedicated to creating urban mobility studies through their artificial intelligence and big data analysis to track city traffic, Moovit has been present in a large number of cities around the world. Specifically 3,100 cities in 102 countries. Along with Google Maps or CityMapper, the Israeli version has managed to take its place in the mobility applications sector.
This purchase, in fact, would complement Mobileye’s expertise within Intel’s automotive industry. Traffic data, schedules, movement of people in cities … would be combined with the autonomous mobility of the Israeli company to provide “intelligence” to these vehicles in the cities.
Is this purchase a surprise? The relationship between Moovit and Mobileye goes back a long way. They not only share the same geography. Back in 2018, Moovit raised $ 50 million in a Series D round in which Intel and Mobileye joined.
Moovit, also in Spain
Intel wants to buy Moovit, yes. But the history of the mobility company goes back a long way and its activity in Spain has a history of agreements.
Already in 2019, Moovit launched into the search for partners in southern Europe. He found it in Wondo, Ferrovial’s urban mobility proposal. Together, Wondo and Moobit sought to be at the forefront of transport management in Spain.
“It is a long-term agreement, I think it is a good business because we are going to offer a very good service in Spain and Portugal from now on”, explained Nir Erez, founder of Moovit to Hipertextual at the time it was launched the deal. It also denied any purchase between the two companies, although perhaps the current situation will change with Intel’s entry into the capital of Moovit.
The idea was to create the definitive application that would provide information on the traffic and mobility of cities, combining public and private transport. A throne that, today, continues to occupy the giant Google.
How to beat the king of data Google? The gamble, one of the reasons Intel wants to buy Moovit, lies in the way the Israeli startup data. Up to 5 billion anonymous data points feed the company’s base.
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