Intel Buys Transit Data Startup Moovit For $900 Million

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Intel is betting high on AI and autonomous driving cars. And that is part of the reason why Intel announced to buy an Isreal based urban transit data startup Moovit. Moovit takes public transit data and uses AI and big data analysis to provide route planning for its users. It can also provide route planning for those areas where no public transit data is available because it also uses crowdsourced data. 

The deal between Intel and Moovit is evaluated at approximately $900 million. The Moovit app is used by 800 million customers and services 3,100 cities across 102 countries. So it will give Intel’s AI a huge amount of data about the urban transit patterns. 

This can help Intel to take a big pie of the estimated $160 billion robotaxi markets by 2030 by making Intel’s Mobileye a complete mobility provider. Mobileye was also an Israeli startup specializes in chips for camera-based autonomous vehicles that was acquired by Intel in 2017.

Source: Intel Newsroom

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