BMW Launches $100M Fund, Invests in My City Way
The BMW Group has launched a $100 million venture capital fund, BMW i Ventures, designed to help expand its range of sustainable and mobile technology. New York-based start-up My City Way is the first investment from the BMW fund. Terms of the deal were not released. My City Way provides a mobile app focused on public transportation, parking and local entertainment. BMW also announced a new sub-brand of vehicles focused on sustainable mobility, including hybrid and electric systems that will launch two new models in 2013.
22 February 2011•4 mins read
