Million-dollar investment in a new artificial intelligence hub in Sant Cugat

Following the acquisition of the start-up Shotl by the Emirati group Swvl, the multinational will locate its new hub for artificial intelligence applied to urban mobility services in Sant Cugat. The company plans to invest around five million euros to train a team of 50 technology professionals by the end of this year.

Shotl is now a Swvl company! We have the common goal of building a more sustainable and accessible world. You want to know more? Follow us on Swvl!#swvlringsthebell #nasdaq #nasdaqlisted pic.twitter.com/O7EUUwlj8f

— Shotl (@rideshotl) April 11, 2022

In August, Swvl acquired the start-up Shotl, which specialises in an on-demand bus service for companies and public administrations. The start-up’s founders comment: “They made us an offer we couldn’t refuse. Orders were down because of the pandemic crisis”, without disclosing the purchase price.

The multinational went public on the Nasdaq stock exchange and raised around 500 million to finance its growth.

With the transaction (formalised in November), Shotl will see its brand disappear, but its technology and team will be more alive than ever. With the opening of an artificial intelligence hub in Sant Cugat, the group will take advantage of local talent and attract foreign professionals.