Lituanian startup Trafi spends $1 million to enter Russian market

Lituanian startup Trafi has launched its public transport app in four Russian cities — Moscow, Saint Petersburg, Rostov-upon-Don in southern Russia and Chelyabinsk in the Urals.

The mobile app is designed to help users plan and optimize journeys, while cities may avoid congestion and make commuting faster.

“Our combination of scientific algorithms, real time processing of traffic situations and crowd-sourced reports allows us to predict journey durations and arrival times 200% more accurately than our competitors and local transit authorities,” claims the startup.

Trafi has invested $1 million to enter the Russian market, the company’s co-founder Martynas Gudonavicius told Russian tech blog Rusbase. It will compete with Yandex.Transport, a service offered by Russian search giant Yandex.

Trafi, which has offices in London and Vilnius, operates across the three Baltic states as well as in Brazil and Turkey, where it came prior to entering the Russian market.

In May 2015, the startup attracted $6.5 million from Octopus Ventures, BaltCap, Practica Capital and the EBRD.

Topics: Chelyabinsk, International, Mobile & Telecom, Mobile content, Moscow, News, Regions & cities, Rostov, St Petersburg
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