Cypher Capital, a venture capital firm based in the United Arab Emirates, today announced that it has invested in Iomob, a blockchain company pioneering the development of a decentralized protocol for the world’s first mobility network and market token. world. The investment will be used to support the development of Iomob’s blockchain architecture.
Investment Cypher Capital Iomob
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 increase its reach in the region. Iomob will also use this investment to strengthen its presence in India.
Given India’s ambitious smart cities agenda and growing and diversifying public and private transport ecosystem, Iomob’s decentralized mobility internet could help provide a digital layer to enable a more seamless low-carbon mobility across the country.
The world-class Iomob app and “Journey Planner” facilitates and improves intermodal mobility by leveraging 7,000 taxi fleets, micro-mobility in over 270 cities, thousands of parking spaces and over 480 transport flows in common.
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Iomob was incorporated in 2018 by three doctoral students. co-founders based in Barcelona, Spain. Since incorporation, it has rolled out trials with large enterprise customers in New Zealand, Spain and Scandinavia, and is currently rolling out commercially in the UK, US and Portugal, offering millions of travelers a access to multimodal and shared mobility, with many other 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.