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Deutsche Bahn invests millions in Berlin ride-sharing startup: report

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Deutsche Bahn invests millions in Berlin ride-sharing startup: report
File photo: DPA.
18:24 CEST+02:00
German government-owned Deutsche Bahn is investing millions in a Berlin taxi and ride-sharing startup that has its sights set on expanding in the United States and Asia, according to a media report on Monday.

Tech news magazine t3n reported on Monday that German railway company Deutsche Bahn has invested in Berlin startup Talixo to the tune of seven figures.

Founded in 2012, the online platform and app Talixo allows users to pre-book taxis and various types of limousine, promising discounts and special promotions to save money.

It also offers a ride-sharing service for business customers to share rides to and from the airport.

According to t3n, Talixo plans to use the extra capital to expand into the United States and Asia. Currently the service is offered in 748 cities across 95 countries worldwide, and on every continent.

Ride-sharing apps like Uber have risen in popularity in recent years, but they have also been especially controversial in Europe with big taxi unions. German courts have repeatedly challenged Uber’s car-sharing services because their drivers do not have the same licensing requirements as normal taxi services.

According to t3n, Deutsche Bahn hopes that its investment in Talixo will give it a connection to transportation to and from transit hubs.

“Basically, the topic of ‘first and last mile’ in the mobility market is very exciting for us, and we see here big growth potential for the coming years,”  Manuel Gerres of Deutsche Bahn’s digital ventures department told t3n.

The rail company wants to make it possible for their customers to better coordinate their entire transit journeys, as well as to support those on business trips.

“From its technology to its business model, Talixo offers us the option of further developing a more concrete offer,” said Gerres.

Deutsche Bahn’s stake in Talixo follows the rail company’s further push into digitalization, launching in November a fund for startups with the aim of pouring €100 million worth of venture capital into startups and other tech ventures by 2019.

SEE ALSO: 10 things you never knew about train travel in Germany

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