Changing the Way We Move: JLR InMotion Backs 11 Startups in 2017
Changing the Way We Move: JLR InMotion Backs 11 Startups in 2017! We’ve reported about Jaguar Land Rover’s InMotion subsidiary and how they have teamed up with Lyft to begin testing a fleet of vehicles for autonomous driving. You may recall that the InMotion subsidiary works on “developing and investing in new technologies, business models and entrepreneurs to deliver innovative transportation services that meet the new needs of everyday travellers.” Some of these new needs include, ride sharing, car sharing, and on-demand services like grocery deliveries. With the growth of companies like Uber and Lyft, automakers now need to find a way to capitulate and create branding in structures that go against individuals owning their own car.
JLR has begun investing more heavily in tech start-ups like LISNR and PILOT and working on Selfie Identification, investing in artificial intelligence, and is enlisting the help of Blackberry to increase safety. The company also invested in MyCroft which is working on a voice recognition program that they hope to implement by 2020. According to JLR’s official press release, “InMotion Ventures, Jaguar Land Rover’s venture capital arm has become one of the most active investors in mobility and transport, backing 11 companies in 2017. Ranging from growth equity investments for well-known companies like Lyft to seed funding for a number of early-stage companies that will change the way we move.”
The 11 companies selected this year are:
- Lyft – the fastest growing ride-sharing platform in the US, which has tripled its revenues in 2017 and launched its services in Canada
- By Miles – providing dynamically priced insurance policies for low mileage drivers based in the UK, using telematics data
- Cove – provides dynamic car-pooling services for residential developments and hotels in Hong Kong
- Dovu – uses blockchain technology to give individuals control over their personal travel data so they can earn rewards and cash incentives for sharing it
- Go Kid – innovative car-pooling app for parents
- Sheprd – a leading provider of on-demand mobility solutions for children and parents, operating their own fleet of smart school buses with approved drivers
- Splt – provides impactful solutions for employers who want to encourage employee car-pooling to meet sustainability targets
- Synaptiv – collects and processes vehicle data to support decision-making and provide analytical insight to OEMs and third parties
- Validated – enables retailers to reward loyal customers by reimbursing parking and transport costs
- Wluper – artificial intelligence-powered personal travel assistant, breaking new ground in voice recognition
- Zeelo – demand-responsive coach travel which eases travel between cities and to events.
“This year has been a tremendous year for mobility and transport. A new crop of mobility companies has emerged that will provide consumers with even more choice to move from A to B. We completed 11 investments in less than 12 months. The pace of our investment activity reflects the overall dynamic of the sector. Our team of investment professionals has put InMotion firmly on the map this year, and we look forward to the opportunities 2018 brings.” – SEBASTIAN PECK, MANAGING DIRECTOR, INMOTION VENTURES