MOBILITYX, the transportation startup backed by Singapore subway operator SMRT Corp, has raised an undisclosed amount of Series A funding from lead investor Toyota Tsusho Corp.
The proceeds will be used to expand mobilityX's deployment of its integrated mobility-as-a-service solution in Singapore and the region, mobilityX said in a press statement. The startup and Toyota Tsusho, the general trading arm of carmaker Toyota Group, have also signed a master collaboration agreement to focus on technology development and regional expansion.
mobilityX is beta testing an integrated mobility subscription service for consumers to access public transport and first-and-last-mile services from various transportation solution providers, such as bike rental companies.
mobilityX chairman Peter Tan called the investment and collaboration deal "a significant endorsement" of mobilityX.