Mapbox, a San Francisco, CA-based provider of a location platform empowering navigation for Toyota, General Motors, and BMW, received a $280M investment from Softbank.
Led by CEO Peter Sirota, Mapbox is a provider of technology for location-aware businesses and applications. It equips organizations with AI-enhanced tools and data to empower navigation for people, packages, and vehicles everywhere. The company has long been the go-to location platform for powering mobile apps and logistics, from rendering animated radar maps for The Weather Company to helping Instacart deliver groceries on-time. Now, Mapbox has established itself in the automotive industry, working with world leading brands.
This new funding accelerates the company’s efforts to bring AI into the car, with new ADAS features for automated driving and safety that work across a wider range of roads and more geographic locations. The map allows vehicles and devices to share 28 billion global daily map detections.
The company will leverage its real-time map to give automakers the required data and AI to comply with new safety standards such as Europe’s GSR and NCAP. The AI map also plays a role in automotive electrification by integrating with in-vehicle battery systems to monitor energy consumption, intelligently forecasting range, suggesting charging stations based on real-time availability, and facilitating secure payment processing.
Beyond automotive, delivery companies will gain access to local details that efficiently guide drivers to destinations. App developers gain 3D map content to create virtual environments in travel, fitness, and weather. And companies of all kinds can leverage the live map to analyze how their business performs through the lens of location intelligence.
More than 4 million registered developers and nearly 40 percent of Fortune 500 companies use its applications, data, SDKs, and APIs to create customized and immersive experiences.
FinSMEs
20/09/2023