The Routing Company, a Boston, MA-based startup that builds dynamic routing and vehicle management solutions for transit providers, raised $5m in seed funding.
The round was led by The Engine.
The funding, which brings The Routing Company’s total capital raised to $6.175m, will be used to accelerate commercialization of the startup’s dynamic shared rides technology, refine its product, and round out a team that combines extensive rideshare industry leadership experience with deep academic expertise.
Spun out of MIT’s Computer Science and Artificial Intelligence Laboratory (MIT CSAIL) by Menno van der Zee and Alex Wallar, Chief Technology Officer, later joined by James Cox, CEO, and Bradford Church, head of product, The Routing Company partners with cities to improve the reach, efficiency, and sustainability of public transit via an on-demand vehicle routing and management platform. Its proprietary technology – born out of a 2017 MIT study – powers a platform that helps cities and other transit providers solve the problem of how to deliver reliable demand-responsive transit – sustainably and at scale. Cities and other transit providers can access a technology platform that improves the rider experience by making existing fleets more responsive to fluctuating demand and traffic patterns in low- and medium-density areas.
FinSMEs
16/12/2020