“Journey planner app Trafi raises $6.5M” reported MobileWorld Live, the official publication of GSMA the Assosiation of GSMA on 2015-05-20 00:00:00.
Lithuanian-based app Trafi, “designed to plan journeys using real time data, scientific algorithms and machine learning,” has raised $6.5 million in a Series A round, according to TechCrunch.
It will use the money to launch in new markets, develop its technology and expand its team.
Currently, it is available in Turkey, Lithuania, Latvia, Estonia and Brazil, with plans to open an office in London.
Co-founder and CEO Martynas Gudonavicius said the app is different from other similar apps such as CityMapper because of its predictive technology which not only looks at real-time traffic data but also analyses traffic patterns.
“We are taking raw data from official data sources and applying our scientific algorithms to predict journey durations and arrival times. This approach results in even more accurate data than provided by public sources,” he said.
He admitted Trafi’s biggest competitor is Moovit, another travel planner that recently raised $50 million in a Series-C round, but thinks they are expanding into new markets too soon and not focusing on data quality.
He believes “Trafi’s highly accurate platform sets us clearly apart from existing public and private solutions.”
“We see enormous potential in emerging market cities where complex transport networks and the imperfect public information available currently makes it difficult for commuters to plan their journeys,” he added.
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