EU – Baltic States, Good for Business, Investments, Latvia, Technology, Transport

The company’s management says that the huge funding will enable TRAFI to build company’s capacity – to further develop proprietary technology, scale the team and launch additional markets.

Listed in Apple’s ‘Best apps of 2014’ this year, mobile application TRAFI provides superior user experience and transit planning information using real-time data complemented by proprietary prediction algorithms and crowd-sourced reports. It is currently available in Lithuania, Estonia, Turkey and Brazil. The free tool has been available in Latvia since September last year, giving a chance to plan journey for public transport, car or walking faster and easier in Riga, Jelgava and Liepaja.

Martynas Gudonavicius, Founder and CEO of TRAFI commented: “To have such a support from illustrious investors makes this a particularly exciting time for us. Existing solutions tend to focus on scaling to multiple cities quickly, without fixing the core problem: that publicly available public transportation information is often inaccurate, making it impossible for commuters to plan their journeys. In environments like these, TRAFI’s highly accurate platform sets us apart from existing public and private solutions. We see enormous potential in emerging market cities where complex transport networks and therefore we will keep working with a particular focus on product development in current market and launch additional markets.”

He also states that company will further have a particular focus on the Baltic States, including Latvia as the growing use of mobile application there proves the efficiency of the application and public need for it.

Simon King, a member of the Ventures team at Octopus commented: “At Octopus we believe in backing great teams from across Europe and, in TRAFI we’re very excited about partnering with one of the top teams.”

TRAFI is available of Android and iOS (Apple) operating systems and it can downloaded for free in Google Play or App Store. Information is provided in Latvian and English.