Gett, which operates a taxi hailing app in over 100 cities around the world, has acquired Israeli startup Streetsmart. The Israeli company has developed a unique system for managing taxi fleets. The acquisition price is believed to be a few million dollars.
Streetsmart's system helps drivers optimize their routes through the use of big-data analysis algorithms and artificial intelligence. The system, which is personally adapted to the driver, uses real time data in order to shorten the time required to reach the next passenger. This will help Gett drivers maximize their profits and reduce passengers' waiting time, while increasing the efficiency of the taxi fleet.
The technology makes it possible to optimize large fleets with thousands of vehicles, while taking into account the location of all the vehicles in the fleet. This improves utilization of the supply of vehicles and makes it possible to distribute the fleet more accurately according to the demand from passengers.
This acquisition follows a number of recent acquisitions by Gett, including US company Juno and Radio Taxis, a company with licensed taxis in the UK.
CEO Asaf Roz, an experienced technology manager and former CTO at TerraVision, and inventor Yuval Netzer, a computer learning specialist, who was one of the first employees at Google's Israeli R&D center, founded Streetsmart in 2015. Also on the founding team is VP development Gilad Khen, an experienced technology entrepreneur, who has founded a number of cloud computing companies, and chief data scientist Evgeni Begelfor, an algorithms specialist and founder of Tonara. Streetsmart has raised $2 million.
Published by Globes [online], Israel Business News - www.globes-online.com - on August 9, 2017
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