Luxury carmaker Jaguar Land Rover, is betting big on new mobility solutions. In fact, the company's venture capital (VC) arm InMotion Ventures in 2018 has backed six start-ups that could potentially change the way we travel.
Recently, InMotion’s incubator, Studio 107 launched its first service - Carpe for all-inclusive car subscription. JLR says the VC will continue to invest in urban transportation, mobility and travel, but this year extended its reach to include active outdoor experiences.
The six companies that InMotion Ventures selected this year were -
● Voyage - a US based self-driving community taxi service, with the aim that anyone can summon an autonomous vehicle to their door and reach their destination safely.
● FATMAP, a 3D-mapping technology company targeted at outdoor lovers, allowing them to safely navigate off-road across all terrains with ease.
● Transit, a company that built a mobile app designed to help people live and travel around cities without using cars.
● Arc, creators of the world’s first fully-electric motorcycle with Human Machine Interface (HMI).
● Festicket, the world's largest online portal for music fans to discover and book tickets and travel packages for music festivals worldwide.
● WeTrip, a social travel platform that personalises information about attractions according to users' travel preferences.
The investments in 2018 takes InMotion Ventures investment portfolio to 15 companies, with the company having completed its first exit since its foundation in 2016: the sale of enterprise carpooling company SPLT to Bosch in February 2018.
Sebastian Peck, managing director, InMotion Ventures, said: “2018 has been an exceptional year for developments and breakthroughs in the urban mobility and premium lifestyle experience sectors which is reflected in the new additions to our investment portfolio. We have also seen our existing portfolio companies grow and prosper, enabling us to reinvest and continue to support them as they mature.”
Studio 107, InMotion’s incubator, was also launched this year. Working closely with Jaguar Land Rover to develop own-brand urban mobility services, it will help the company to quickly launch new products and services to meet changing consumer demands. InMotion Studio 107 successfully launched its first service this year: Carpe, an unlimited, all-inclusive car subscription model, targeted at high-mileage drivers, providing Jaguar and Land Rover vehicles for a monthly fee.
Lars Klawitter, MD, Studio 107, said: “Launching new product offerings through InMotion’s incubator Studio 107 reflects not only the rapid pace the sector is moving at, but InMotion’s agility in responding to changing consumer demands. We have a really exciting new pipeline of new products and services in development, and we greatly look forward to the opportunities 2019 will present.”