The on-demand transportation market continues to grow, and the latest to steal the spotlight is Gett, a New York-based startup that operates primarily based in Europe. Gett has made the headlines after the startup received $300 million in investment from Volkswagen. The German car manufacturer wants to use the investment to spearhead its on-demand and autonomous cars.

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The exact market valuation of Gett is still unknown. However, with Volkswagen's latest investment, it is sure that the startup will receive all the attention it needs.

In November 2015, Israeli publication Haaretz - Gett has a Research and Development center in Israel and also operates in the country - reported that Gett is looking for debt funding at a $2 billion valuation. Volkswagen is Gett's only investor in this round of funding, the company's co-founder and chief executive officer Shahar Waiser has confirmed, according to Tech Crunch.

Following the news about its investment in Gett, Volkswagen chairman of the board of management Matthias Muller said in a statement that "Alongside our pioneering role in the automotive business, we aim to become one of the world's leading mobility providers by 2025. Within the framework of our future strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs."

The investment with Gett is Volkswagen's first ever venture into startups that are slowly crowding the on-demand transportation market. In fact, traditional car manufacturers are starting to show interest in the on-demand transportation market.

Earlier this year, General Motors invested $500 million into Lyft. GM is aiming to make its mark in the market and subsequently purchased self-driving car startup Cruise.

According to The Guardian, Toyota is investing into Uber, one of Lyft's biggest rival and probably the most prolific service in the on-demand transport market.

TagsGett, volkswagen, Volks, Volkswagen investment, on-demand transport, lyft, Uber