Toyota Tsusho Asia Pacific Pte Ltd, as the sole general trading company of Toyota Group, led the investment into the public transport digital platform
Singaporean public transport digital platform mobilityX announced today that it has raised Series A funding from Toyota Tsusho Asia Pacific Pte Ltd, part of Toyota Tsusho Corporation, the general trading arm of Toyota Group.
mobiilityX plans to use the fund to expand the deployment of its integrated Mobility-as-a-Service (MaaS) solution in Singapore and the region.
Aside from the funding, mobilityX and Toyota Tsusho have signed a Master Collaboration Agreement that features collaborations in the technology development and regional expansion of the business.
“We seek to establish a better and more efficient mobility service to support the creation of a more prosperous life for the citizens of Singapore and the region,” said Hideki Yanase, President of Toyota Tsusho Asia Pacific Ltd.
According to Peter Tan, Chairman of mobilityX, the investment by and strategic collaboration with Toyota Tsusho is a significant endorsement of the company.
Officially operating in 2018, mobilityX is a transportation tech company and mobility subscription service for consumers to access public transport and first-and-last-mile services. The company integrates and optimises various transportation options for commuters onto a single digital platform. Currently, mobilityX is in beta-testing.
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