The round, which brought total funding to $34m, was led by Next47, with participation from existing investor Sequoia Capital and new investor Singapore-based ST Engineering Ventures. In conjunction with the funding, Next47 will join the rideOS board.
The company intends to use the funds to expand its services to global transportation markets.
Led by CEO and co-founder Justin Ho, rideOS designs and builds marketplace and mapping services that can be utilized by ride hailing companies, OEMs, logistics providers, and governments to operate on-demand transportation services for both self-driving and human-operated fleets.
The company will benefit from Siemens’ global presence, partnerships, and strategic involvement.
Next47 will be integral to rideOS’ mission to accelerate the safe, global rollout of self-driving cars through its presence in major cities on nearly every continent and provide global support and deep expertise in industrial and infrastructure technology.
The Series B closely follows two key partnership announcements with Autonomic, a Ford subsidiary, and Singapore’s ST Engineering (ST Engg).
FinSMEs
02/08/2018