Inrix, Inc., a Kirkland, WA-based global provider of transportation information, analytics and driver services for the connected car and smart cities, raised a $55m investment.
Porsche Automobil Holding SE (Porsche S.E.), the holding company with a controlling interest in the Volkswagen Group, acquired approximately a 10% stake in the company, through purchasing both primary and secondary shares.
Led by Bryan Mistele, president and chief executive officer, Inrix is a provider of real-time traffic information worldwide to automakers (like Audi, BMW, Ford, Mercedes, Volkswagen and Toyota), fleets, governments and news organizations.
The INRIX Traffic Intelligence platform continuously analyzes real-time data from a variety of sources including a crowd-sourced network of more than 175 million real-time vehicles and devices and curtrently provides real-time traffic information for 6.4 million kilometers (4 million miles) of roads across 40 countries.
In connection with the investment, Philipp von Hagen also will join the INRIX board of directors.
FinSMEs
15/09/2014