RTTNews | Feb 10, 2021 09:51AM EST

09:50 Wednesday, February 10, 2021 (RTTNews.com) - The Lufthansa Innovation Hub, the central digitalization unit of the Lufthansa Group, spins-off the startup RYDES.

Porsche has acquired a stake in RYDES via Forward31, the company builder of Porsche Digital. Both Porsche and the Lufthansa Group are now strategic minority shareholders in the startup.

RYDES launches a new product that allows users to access and book different mobility services from one app.

RYDES was founded in 2018 as part of the Lufthansa Innovation Hub. The company's initial business idea focused on developing a loyalty program that rewards people for using different mobility services.

RYDES focuses on companies that want to offer mobility to their employees as an additional benefit.

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