Email
Password
Remember meForgot password?
    Log in with Twitter

article imageRideOS raises $25 million in Series B funding round

By Lisa Cumming     Aug 2, 2018 in Business
RideOS, a cloud-based transportation management and mapping platform, has raised $25 million in their latest funding round.
RideOS looks to be the communication line between different competitors in the self-driving vehicle market. The platform aims to do this by pulling mapping, traffic and detection data to find the best route for all self-driving vehicles in a given area to reduce potential traffic congestion and accidents that may happen without coordination between competitors. This service also works for human-driven cars as well.
According to TechCrunch, the company operates somewhat like Waze, except instead of human input they rely on data that can be detected automatically.
The San Francisco-based company was founded in 2017 and this most recent round raised their total funding to $34 million. Their Series A round happened recently, in June 2018.
The round was led by Next47, a global venture firm created by Siemens AG. Sequoia and ST Ventures also participated.
With this most recent round of funding, RideOS said it would be using the money to expand in to global markets and "benefit from Siemens’ global presence in major cities on nearly every continent."
In June RideOS announced that it had partnered with Autonomic, a platform working on Ford’s Transportation Mobility Cloud. In July the company announced another partnership with ST Engineering, an engineering group with headquarters in Singapore.
More about rideos, Artificial intelligence, self driving cars, selfdriving, News