16.03.2011 21:09

German car maker is launching BMW i Ventures, a VC firm based in New York City, with an investment totalling up to 100 million US dollars. 

With this sub brand BMW recognizes that mobility goes beyond the car. "What’s truly groundbreaking is that we’ll begin offering car-independent premium mobility services.  BMW i aims to provide customized mobility solutions across a seamless network of premium products and premium services,” explained BMW head of marketing Ian Robertson. 

The focus is on solutions which will improve usage of existing parking spaces, as well as intelligent navigation systems with local information (like live video from traffic cameras), intermodal route planning, and premium car-sharing. 

The goal of this VC firm is to invest in innovative companies working on such topics. 

New York-based MyCityWay is the first company in which BMW i Ventures has taken a stake. Of the partnership, Ian Robertson said, “I am thrilled to announce that we have just signed our first strategic partnership with MyCityWay. As a mobile app, MyCityWay provides users with information on public transportation, parking availability, and local entertainment for over 40 cities in the US. Another 40 cities will be part of the global rollout." 

MyCityWay was formed in November 2009 by three Indian technology entrepreneurs living in New York City. Other investors include VC firm Firstmark Capital and IA Ventures as well as New York City Economic Development Corp. (NYCEDC). 

News category: Technology
News tags: