Mobi - NEM Ventures Second Portfolio Investment

NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem, is pleased to announce investment in ridesharing app, Mobi, which provides a safe and affordable carpooling alternative. First hitting the Australian market in Melbourne, Mobi leverages the NEM blockchain to change the face of commuting.

Mobi were in the original back log from the NEM Community Fund and NEM Ventures is very happy to be supporting a business with a long term interest in NEM.

As this is a seed round its purpose is to help launch it into the market and onboard users, while proving the uptake of XEM goes as expected and aggregates work for the use case required.

Mobi have a Minimum Viable Product (MVP) tested with a live pilot of approx 200 users and they have confirmed partnerships with 3 major universities across Australia giving access to circa 40,000 potential users to begin scaling.

By integrating Catapult, Mobi is able to utilize the protocol’s features to optimise the app experience for commuters. In the app, commuters pre-arrange rides up to a week in advance, by selecting which dates and times they will be requiring or providing services. Commuters have control over who they choose to ride with, and both parties can connect in advance via the app’s chat function. Mobi are developing an incentive-driven partner network to enable businesses to connect employees for their commuting needs and allow the service to scale.

The app integrates XEM payments facilitated by aggregate transactions on NEM Catapult and XEM payments are expected to launch shortly after the public chain Catapult release. Other uses of the NEM blockchain solution will likely include multi party escrowed transactions to record payments, loyalty points and storage of data on carbon emissions and sustainability measures - which will provide data to promote behaviour change and emission reduction. Automatic accounting, know your customer (KYC) information of the drivers to keep up to date information on the driver, car, and insurance, and encrypted message chat are being scoped by NEM specific developers.

XEM will be incorporated into the application in line with Catapult mainnet launch as it requires the use of aggregate transactions as escrow to protect the driver and passenger. Any payment made with XEM will have a 20% discount over fiat payments.

Daniel Logan, Co-founder of Mobi, commented: “In Melbourne, the first city on our roadmap, there are approximately 2.1 million commuters and 1.3 million car drivers. Mobi bridges this gap by creating a convenient and affordable way to make commuting a more positive experience for all. The app creates a sustainable solution, which can help limit carbon emissions, travel congestion, and free up much needed parking spaces across densely populated cities. NEM allows this to happen more transparently, efficiently and cost effectively and we are happy to partner with the community strategically. NEM is built around a powerful system which provides us with direct API access to a specialized set of tested and secure on-blockchain features, and we are aligned in our mission to bring sustainable ridesharing to the masses.”

NEM Ventures are always looking for ways to utilize blockchain to promote social change, which is what drew us to this project in the first place. Mobi aims to further the sustainability agenda with a focus on creating long-term shareholder value while driving home the fact that profitability is not a trade-off for sustainability.

17 Likes

This is awesome news to see Mobi on board. It looked a very prospective project when i was following it in 2018

3 Likes

Thanks to NEMFlash for picking the story up so quickly (as always)!

Getting some good coverage already in places like TokenPost, CoinJournal,Yahoo Finance and a few Japanese speaking sites like CoinChoice

2 Likes

Hey NEM Community,

Sorry for the lack of updates as of recently, we’d like to provide the community with an update regarding the progress Mobi Carpooling has been making over the last few months.

The Mobi team has had a busy and productive last few months developing our application, creating leads with potential customers and as on recent implementing NEM into the Mobi Software.

The Mobi application is now live and available to our partners within Australia. We have in built chat platforms, GPS mapping and tracking, ride scheduling and an admin panel to track data for the partners. The type of information that Mobi is now able to capture will be critical to helping organisations meet their sustainability targets. For example, Mobi can calculate the amount of Co2 emissions that each of the organisations has saved by simply implementing Mobi Carpooling within their company.

We have had multiple meetings with many City Councils, Universities and some private business parks regarding the implementation of the service for their staff/students. At this stage Mobi is yet to sign an official partner however we are very close with a Government department and two city councils which we hope to receive approval by the end of this month.

Finally, Mobi has been working with Bader from IoDLT in regards to the implementation of NEM into the Mobi application. We are currently completing the UX/UI with a team located in Australia named Engenesis Technology. We hope to have implemented the financial payment section by early March and create a prototype so the NEM community can experience Mobi also.

We’re hoping to have some designs ready for you mid next week which I’ll share on this forum also.

Thanks everyone,

Daniel

12 Likes

Thanks for the update @Daniel-Mobi, what I like the most is that you are working together with @crackTheCode on IoDLT!

I’m based in Melbourne, Australia and have downloaded the app, will look forward to see if I can try it out soon. We have a few team members here too and ready to support when we can use it.

Keep it up!

1 Like