Cypher Capital, a venture capital firm based in the UAE, today announced that it has invested in Iomob, a blockchain company pioneering the development of a decentralized protocol for the world’s first mobility marketplace network and token. The investment will be used to bolster the development of Iomob’s blockchain architecture.
Cypher Capital Iomob investment
Iomob has a strategic partnership with a major technology company in India and with this investment and the network of Cypher Capital, it aims to grow its reach in the region. Iomob will also use the investment to strengthen its presence in India.
Given India’s ambitious smart cities agenda, and rapidly growing and diversifying public and private transportation ecosystem, Iomob’s decentralized Internet of mobility could help provide a digital layer to enable more seamless low-carbon mobility throughout the country.
Iomob’s application and world-class “Journey Planner” eases and improves intermodal mobility by tapping into 7,000 taxi fleets, micro-mobility in more than 270 cities, thousands of parking spaces, and 480+ public transit feeds.
Iomob was incorporated in 2018 by three Ph.D. co-founders based in Barcelona, Spain. Since its incorporation, it has deployed trials with major enterprise customers in New Zealand, Spain, and Scandinavia, and is now deploying commercially in the United Kingdom, United States, and Portugal, providing millions of travelers with access to multimodal, shared mobility, with many more deployments to be announced this year.
Iomob also recently announced an investment from True Global Ventures, with co-investment from impact-focused funds A100x and Creas.