MaaS Startup Company Looks to New Horizons Beyond Europe
The Lithuanian startup company was founded by Gudonavičius as well as entrepreneurs Jurgis Pašukonis, Mantas Vizbaras, and Algimantas Krasauskas. Since the inception of the business, Trafi has raised $14 million from investors, including Octopus Investments, Sumitomo Corporation, and the European Bank for Reconstruction and Development. The business headquartered in Vilnius, Lithuania also has offices in London, Berlin, and Paris.
While the startup company provides the technology backing the transportation booking platform, the consumer-facing application falls under a different name depending on where users are located. In Berlin, where Trafi partners with public transport business Berliner Verkehrsbetriebe, the app is called Jelbi. However, users in Munich will likely find the upcoming app under a different name branded by Münchner Verkehrsgesellschaft, the primary public transportation business in the city.
Regardless of the name that the consumer-facing product possesses, Trafi works with public transportation companies to consolidate the slew of travel options in their respective city for easy access by travelers. The startup tech company even supports integration with ride-sharing businesses like Lyft and Uber, as well as bike and scooter rental services.
Trafi is breaking into the Latin American market with Bogotá and continuing its goal to “empower cities' urban transportation with technology and know-how and encourage citizens to use more sustainable modes of transportation.” Bogotá seems to be a great entry point, as the city is already known to promote sustainable transportation habits with car-free days.
MaaS Industry on the Rise
The transportation data startup cracked into a lucrative market. Trafi’s platform is already utilized by tech giants Google and Apple to improve public transport arrival predictions within their own mapping applications. Furthermore, MaaS Global, one of Trafi’s main competitors in the industry, has raised over $65 million from investors. Market research reports that the global MaaS market will value $99.8 billion by 2025.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.