Leading investors in smart technologies are backing the mobility analytics company to build what claims to be the world’s first intelligent mobility operating system.
Swiss-based technology firm, Teralytics, has raised $17.5m in a funding round led by Robert Bosch Venture Capital. The company is building what claims to be the world’s first intelligent mobility operating system.
The advanced mobility analytics platform will be powered by telecom network data.
Other participants in the funding round included Innogy Ventures, Deutsche Bahn Digital Ventures, LBBW Venture Capital and Liil Ventures, as well as existing investors Atomico and Lakestar.
Using data science and proprietary machine learning algorithms, Teralytics aims to provide actionable mobility insights to help cities and transport services understand, predict and improve journeys across all modes of transport.
At a time of growing urbanisation and environmental awareness, these insights support the world’s shift to electric mobility, helping to optimise charging station locations and transform the electricity grids based on predicted demand, it said.
Writing on Medium.com, it said cities worldwide are looking for ways to take advantage of these new technologies and services, while also coping with aging mobility infrastructures: "All of them need an understanding of how these impact their residents, however the lack of quality insight is hindering critical planning and compromising operational decisions. There is a need for unbiased, comprehensive insights into people’s journeys across all modes of transportation, in real-time."
“We are delighted to have attracted such an outstanding syndicate of investors. The group comprises both astute financial investors with impeccable track records, and extraordinary domain-relevant strategic partners – RBVC, Deutsche Bahn and Innogy. Our fit with their long-term vision for mobility is particularly exciting,” said Alastair MacLeod, CEO, Teralytics.
"There is a need for unbiased, comprehensive insights into people’s journeys across all modes of transportation, in real-time"
“Human mobility is changing beyond recognition. The next 10 years will bring a seismic shift in mobility technologies, comparable to the impact that transistor and personal computer advancements had on miniaturisation and digitalisation. We are building a global company which will put us at the epicentre of these transformational changes.”
Until now, cities and mobility services have been designed based on assumptions of how public authorities and private companies expect people to move. But they aren’t taking the journeys of the whole population into consideration.
As a result, for many, mobility is limited. Not just physically, but socially and economically. It’s stopping people from reaching their full potential. Ineffective transport services can be the difference between a job not taken and a family life compromised, said Teralytics.
Teralytics partners with mobile network operators to solve this problem with the most accurate indicator of people’s movement – their mobile devices.
Teralytics plans to use the funding to expand its geographic footprint to become a global marketplace for mobility insights and cover the journeys of more than one billion people. It currently provides mobility data products for infrastructure developers, transport planners and shared mobility services across more than 10 countries.
“We are convinced that this exceptional team, with their strong track record in building the leading analytics technology stack, is well positioned to unlock the data the world needs to improve human mobility, both in terms of delivering a better service at lower cost and with minimised environmental impact,” said Thomas Thomas, managing director, Innogy Ventures, one of the investors.
Innogy has also invested in a number of other smart technology companies, including Share & Charge, which is building an open charging network for the electric vehicle market and Oriient, which powers location-aware apps for retailers and smart building operators.
Thomas added: “We are amazed by the insights the Teralytics platform offers for the future use of electric vehicles, the optimisation of charging station locations and the implications for electricity grid operations."
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