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PressClub USA · Article.
BMW i Ventures announces strategic investment in award winning mobility app company Embark. Further increasing freedom of individual mobility through innovative mobility services.
Tue Nov 13 18:00:00 CET 2012 Press Release
New York. The BMW Group is expanding development of innovative mobility services under the sub-brand BMW i. The company’s venture capital entity BMW i Ventures is announcing a new investment in the mobile technology company Embark, further increasing the number of mobility services providers which already includes MyCityWay, ParkAtMyHouse and Chargepoint. BMW i Ventures investments in these companies will further the company’s work increasing freedom of mobility for individuals whether it be by car, train, bus or on foot. The newest investment was announced at the BMW i “Born Electric” World Tour in New York City, where mobility experts from across the USA met with BMW executives.
New York. The BMW Group is expanding development of innovative mobility services under the sub-brand BMW i. The company’s venture capital entity BMW i Ventures is announcing a new investment in the mobile technology company Embark, further increasing the number of mobility services providers which already includes MyCityWay, ParkAtMyHouse and Chargepoint. BMW i Ventures investments in these companies will further the company’s work increasing freedom of mobility for individuals whether it be by car, train, bus or on foot. The newest investment was announced at the BMW i “Born Electric” World Tour in New York City, where mobility experts from across the USA met with BMW executives.
“I am pleased to announce today that for the first time BMW i Ventures is making a strategic investment in Embark – an award winning mobile app company dedicated to helping travelers navigate mass transit cities around the world”, says Ulrich Quay, Managing Director of BMW I Ventures, LLC. “BMW and Embark share a common vision for mobility in big cities. BMW Ventures' investment in Embark will help our two innovative companies explore ways to work together in the coming years, especially in the area of intermodal mobility.”
David Hodge, Founder and CEO of Embark: “The investment will help Embark explore ways to partner with BMW and to expand geographically."
About Embark
Embark is a mobile application designed to make it easy to get around cities using mass transit. Among other features, the iOS and Android application tells users when trains and busses are coming and will send push notifications when services are delayed. With over half a million users and rapid growth, Embark's simple and powerful mobile application is designed to bring urban transportation into the age of the smartphone. Embark is available for twelve major transportation systems in the US and the UK and is expanding rapidly. Recently, Embark won best transit and mobility app awards from the New York MTA App Quest and NYC Big Apps 3.0 contests.
About BMW i Ventures
The field of location-based mobility services is emerging and continuously changing. In order to engage in the most flexible way, the BMW Group has founded BMW i Ventures – a Venture Capital Company based in New York City. BMW i Ventures provides early- and mid-stage investments with high potential in the area of Mobility Services. . These are services that make mobility smarter, more efficient and more flexible. BMW I Ventures aims for strategic, long-term partnerships in particular in the areas of e-mobility, navigation, parking, car sharing and intermodal mobility solutions.
BMW i Ventures is part of the Sub-Brand BMW I, which is about the development of visionary vehicles and mobility services, inspiring design, and a new premium perception strongly guided by sustainability.