ComfortDelGro makes three strategic investments in transport tech start-ups

ComfortDelGro taxi in SingaporeComfortDelGro taxi in Singapore

ComfortDelGro has made investments in three transportation-related technology start-ups via its six-month-old US$100 million corporate venture capital fund ComfortDelGro Ventures, the transportation company said in a filing to SGX Tuesday.

The three start-ups are in on-demand bus technology, fleet management and autonomous vehicle safety testing, ComfortDelGro said.

The first investment was in SWAT, a Singapore shared-mobility company which routes vehicles for the highest utilization rates and service levels, the filing said.

SWAT was a technology provider for the Land Transport Authority’s on-demand public-bus trials from December 2018 through June 2019, and it is already working with ComfortDelGro on using its service for other bus and taxi fleets in Singapore and overseas, the filing said.

An on-demand bus service has already been started with a ComfortDelGro subsidiary in North West Sydney in New South Wales, Australia, for first and last mile connection to the new Sydney metro, the company said.

The second investment was in Singapore-based Haulio, a consumer trucking company incubated by PSA International’s corporate venture capital arm, PSA unboXed, ComfortDelGro said.

More than 75 percent of Singapore’s hauliers use the platform, with more than 2,000 trucks on board, using the platform to match trucking job demand with supply, and improving reliability and visibility for end-customers, the filing said.

ComfortDelGro said Haulio fits with its plan to expand beyond passenger transport, and pointed to vehicle-fleet operations’ similarities in between container and passenger transportation.

Israel-based Foretellix, an autonomous vehicle safety testing and compliance company, was the third investment, the filing said.

ComfortDelGro said it is considering other investments in areas including vehicle fleet electrification, automotive engineering technologies, autonomous vehicle fleet management systems and smart logistics.

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