Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, said Monday that it invested in the latest round of funding for Transit, a multimodal transportation application company in Montreal. The mobile app is a one-stop shop for more than 175 metropolitan areas around the world, providing users with real-time transportation data. Led by Alliance Ventures, the Series B investment raised over $17 million and accelerates the startup company's mission of helping people reach destinations without using a car, a Transit spokesman said in an email. He said three other investors, InMotion Ventures, Accel and Real Ventures, contributed to the funding. Transit CEO Sam Vermette said in a statement: "New modes of mobility are entering the market at record speeds. It took decades for car-sharing to catch on. Now, e-bikes and scooters are being rolled out in weeks. This is an exciting time, as Transit helps people navigate their new mobility options."
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