BMW i Ventures announces strategic investment in award winning mobility app company Embark

The BMW Group is expanding development of innovative mobility services under the sub-brand BMW i. The company's venture capital entity BMW i Ventures is announcing a new investment in the mobile technology company Embark, further increasing the number of mobility
services providers which already includes MyCityWay, ParkAtMyHouse and Chargepoint. BMW i Ventures investments in these companies will further the company's work  increasing freedom of mobility for individuals whether it be by car, train, bus or on foot. The newest investment was  announced at the BMW i 'Born Electric' World Tour in New York City, where mobility experts from across the USA met with BMW executives.

"I am pleased to announce today that for the first time BMW i Ventures is making a strategic investment in Embark - an award winning mobile app company dedicated to helping travelers navigate mass transit cities around the world," says Ulrich Quay, Managing Director of BMW i Ventures, LLC. "BMW and Embark share a common vision for mobility in big cities. BMW Ventures' investment in Embark will help our two innovative companies explore ways to work together in the coming years, especially in the area of intermodal mobility."

David Hodge, Founder and CEO of Embark, said, "The investment will help Embark explore ways to partner with BMW and to expand geographically."

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