moovel GmbH, a subsidiary of German car giant Daimler, has acquired Huron River Ventures portfolio company RideScout, which offers a mobile app for transportation choices in cities. The move is part of Daimler’s continued push beyond car manufacturing and into developing technology for urban mobility, as a next generation of city-dwellers is increasingly giving up on car ownership and opting for transportation alternatives from on-demand car services like Uber to car-sharing services like Zipcar.
Huron River Ventures invested in RideScout in March 2014 and Daimler’s acquisition was cash transaction. Read more on Newswire.