BMW AG‘s venture capital arm BMW i Ventures has invested an undisclosed amount in corporate carpooling service startup Scoop. Automakers and their captives are learning that to endure the waves of disruption pulsing out of Silicon Valley, they must adapt or face serious challenges. The German automaker, whose motto is to create “ultimate driving machines,” clearly knows this, as it has also invested in a ride-hailing service called Summon, a startup that recently moved to San Francisco from India.
Scoop was founded by brothers Robert and Jonathon Sadow, who were previously of Bain & Company and Google, respectively. Scoop users pre-schedule departure times to and from work. Trips are scheduled by 9 p.m. for morning and by 3:30 p.m. for afternoon trips. Algorithms then generate the most efficient carpool routes, taking into consideration company preferences, detours, and pit stops. Scoop currently operates in the San Francisco Bay area.
BMW has made multiple investments in mobility ventures, including fleet management software company RideCell; parking spot locater Zirx; public transit simplification service Moovit; and driving analytics startup Zendrive.
The BMW move follows Toyota Motor’s investment this week in ride-hailing company Uber Technologies and Volkswagen AG’s $300 million investment in European ride-hailing company Gett. General Motors, Ford Motor Co., and Daimler AG have made similar efforts to integrate to the ride-hailing, car-sharing marketplace.
In light of these continuing mobility investments by major names in auto finance, it’s safe to say that the mobility sector is not a passing trend. One by one, auto finance leaders are investing in mobility startups to leverage innovative insight and hold onto significant marketshare.
