Zum, a Redwood City, CA-based provider of student transportation solutions, raised $140M in Series E funding, at $1.3 Billion valuation.
The round, which brought the total amount to $350M, was led by GIC. Climate Investment, and existing investors including Sequoia and SoftBank Vision Fund 2 also participated.
The company intends to use the funds to accelerate the expansion of its AI-driven technology platform.
Led by Founder and CEO Ritu Narayan, Zum provides a carbon neutral student transportation service platform for school districts purpose-built around the needs of kids and the expectations of modern families. It offers one real-time interface for parents, drivers, schools, districts, administrators, and operators to transport children safely via EV electric buses.
Zum is available nationwide, serving more than 4,000 schools across the U.S.
Commenting on the announcement, Ritu Narayan said: “Securing this latest round of funding, especially in a challenging economic climate, is a resounding vote of confidence in our vision and ability to execute. This investment marks a pivotal moment in our journey, empowering us to turn school buses into powerful tools for environmental change.”
FinSMEs
31/01/2024