Toyota Tsusho Invests 6 M. Dollars in Indian Bus App Firm
Nagoya, Nov. 26 (Jiji Press)--Toyota Tsusho Corp. <8015> and Mirai Creation Fund have jointly invested 18 million dollars in an Indian startup that offers an app for middle- and long-distance bus riders.
Of the total, 6 million dollars was contributed by Toyota Tsusho, a trading company of the Toyota Motor Corp. <7203> group, according to its announcement on Monday.
In India, traffic congestion, air pollution and inconvenience of bus services have become serious problems.
With the investment in the startup, Super Highway Labs Pvt. Ltd., Toyota Tsusho will support the spread of the app allowing bus riders to reserve boarding locations and seats. The company hopes that enhanced convenience of bus services will help ease traffic congestion and expand next-generation transportation operations in India.
[Copyright The Jiji Press, Ltd.]