HomeFundingVilnius-based mobility-as-a-service startup TRAFI raises $500K in seed funding

Vilnius-based mobility-as-a-service startup TRAFI raises $500K in seed funding

TRAFI, a startup in the field of journey planning, today announced a seed investment of $500K from Practica Capital, as well as welcoming former Nokia Maps Chief Sylvain Grande onto its board of directors. TRAFI now intends to carry expand aggresively in key markets that have yet to be tapped into by leading web mapping services like Google Maps.

Since its launch earlier this year in Lithuania, TRAFI’s customer base has reached over 300,000 monthly users. The startup’s platform provides unique mapping services to customers that provide a combination of public transportation, walking, bicycle and taxi routes.

TRAFI’s co-founder Martynas Gudonavičius is very confident about the future success of his company. In a recent interview, he stated: “Expansion will be very aggressive in 2013/2014 and mainly focused on emerging markets around the world and multi-million population cities for example Sao Paulo, Mexico City, Moscow, etc. There is definitely a huge opportunity to grow in this market, it’s actually under-invested, especially in emerging markets where open data is still very rare and Google/Apple are not really well established.”

By the way: You can find out about other interesting startups from Lithuania in this list.

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).
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