Bestmile Announces Funding to Fuel Strategic Growth in Autonomous Mobility
Bestmile Announces Funding to Fuel Strategic Growth in Autonomous Mobility
Investment Leads Expansion of Micro-Transit, Ridehailing and Multi-Modal Solutions
San Francisco - USA, Lausanne - Switzerland, March 22, 2018 - Bestmile, the leading mobility platform that enables service providers to manage, operate and optimize autonomous vehicle fleets, today announced it has raised $11 million in a Series A funding round led by Road Ventures SA with participation from Partech Ventures, Groupe ADP, Airbus Ventures, Serena Capital and MobilityFund. This investment will power the company’s global expansion, strengthen its mobility cloud platform technology, and extend its customer relationships with service providers, strategic OEMs and technology partners.
“We are bullish in the mobility services market and see Bestmile as a disruptive force to not only transform the current human-driven environment, but also autonomous vehicle fleets,” said Patrice Crisinel, managing director of Road Ventures SA.
“Based on the company’s proven mobility service technology, commercial deployments in European cities and strategic projects in the U.S., it was a no-brainer to support such a true innovator in the field once again,” said Reza Malekzadeh, general partner of Partech Ventures in San Francisco.
Bestmile’s Mobility Services Platform enables the intelligent operation and optimization of autonomous vehicle fleets, regardless of their brand or type, for both fixed-route and on-demand service types. The platform offers features such as fleet and resource management, mobility service operations and optimization, business back office support and data intelligence. The company’s platform also provides front-end and back-end interfaces for operators and travelers, including control center dashboards, mobile and web applications and APIs. The company’s expansion to ridehailing will offer flexibility to customers with the operation of hybrid fleets comprised of human-driven and autonomous vehicles to support mobility providers’ transition to autonomous mobility.
“Over the next several years, mobility services will experience a transitional phase where autonomous and human-driven vehicles will coexist within the same fleets,” said Raphael Gindrat, CEO of Bestmile. “New micro-transit services will develop into the transportation ecosystem as well. This large opportunity in a booming market, coupled with our innovative technology, are major reasons why so many prestigious investors are backing Bestmile.”
Bestmile works with mobility service providers, including Transportation Network Companies (TNCs), public transit agencies, transportation operators, and private communities and campuses. The company will expand its micro-transit on-demand services, as well as its multi-modal services with existing transportation systems, operators and cities. Bestmile is also continuing to build strong partnerships with vehicle manufacturers and automotive OEMs. The company has notably worked with Navya, EasyMile, Local Motors, and partnered with Paravan, Next Future Transportation, Hi-tech Robotic Systemz among others.
"Local Motors is dedicated to the future of mobility through its innovative autonomous vehicles that are accessible to everyone. As a strategic partner, Bestmile’s mobility service platform enables us to offer an integrated solution to transportation operators," said Jay Rogers, CEO of Local Motors.
The operation of hybrid fleets will be the cornerstone of the autonomous mobility revolution. How efficiently autonomous mobility services are managed and integrated into the existing transportation ecosystem will directly impact the speed of adoption of autonomous vehicles worldwide.
Bestmile empowers mobility providers to deploy, manage and optimize autonomous and human-driven vehicle fleets, supporting fixed-route and on-demand services, regardless of the vehicle brand or type. Bestmile’s mobility platform allows operators to support multi-modal, multi-service offerings in a safe and efficient manner by integrating autonomous vehicles in the existing transportation ecosystem. Bestmile’s autonomous mobility service platform is being used daily in shared electric autonomous vehicles in pedestrian areas and public roads. Incorporated in 2014, Bestmile has global offices in San Francisco (USA) and Lausanne (Switzerland). For more information, visit www.bestmile.com.
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Reference Quotes and Background
Road Ventures SA
Road Ventures is an early stage investment vehicle active in the transportation and mobility sector created by Viatrans SA, a Geneva based company providing services to the Road Transport industry.
"In a very competitive airport industry sector, this investment operation will enable us to build a strategic and long term partnership with Bestmile, to develop together new use cases of autonomous vehicles in our network of 26 airports both in France and worldwide. There is a wide range of possibilities on our airport platforms, as autonomous car technologies can be a key driver to improve not only the quality of service and the regularity of the different transport modes, but also help to improve traffic flows," said Edward Arkwright, Deputy CEO of Groupe ADP.
Groupe ADP develops and manages airports, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2017, the group handled through its brand Paris Aéroport more than 101 million passengers
and 2.3 million metric tons of freight and mail at Paris-Charles de Gaulle and Paris-Orly, and more than 127 million passengers in airports abroad through its subsidiary ADP International. Boasting an exceptional geographic location and a major catchment area, the Group is pursuing its strategy of adapting and modernizing its terminal facilities and upgrading quality of services; the group also intends to develop its retail and real estate businesses. In 2017, group revenue stood at €3,617 million and net income at €571 million.
"Bestmile’s vehicle agnostic and ecosystem approach is very appealing. We are thrilled to see other key transportation players joining us in supporting this vision," said Matthieu Repellin, Investment Partner, Airbus Ventures.
Airbus Ventures is an early stage venture capital group investing in disruptive and innovative technologies that will set the course for ground-breaking innovation in mobility, security, and the future of flight. Airbus Ventures is the venture arm of Airbus, the European multinational aerospace and defense corporation. More information is available at www.airbusventures.vc
Founded in 1982 in Silicon Valley, Partech Ventures is a global investment firm with a team spread across offices in San Francisco, Paris, Berlin and Dakar. Most Partners have been entrepreneurs themselves or have held management positions within tech companies. The partnership acts and invests as a single team, helping entrepreneurs build fast-growing tech and digital companies addressing large markets across multiple continents. Partech Ventures partners with entrepreneurs at the seed, venture and growth stages. Companies backed by Partech Ventures have completed 21 initial public offerings and more than 50 major M&A transactions with leading international companies. Since 2012, the team has built a pioneering business development platform fostering synergies and business relationships between entrepreneurs and strategic partners. www.partechventures.com
“We’re thrilled to back such a strategic company in the mobility industry. The Bestmile platform is the centerpiece of new transport networks, both for autonomous vehicles and on demand human driven fleets. Its technology enables mobility providers to use data and software intelligence to optimize their networks and to deliver an amazing experience to their customers,” said Jean-Baptiste Dumont, Partner at Serena Capital.
Serena Capital is an investment structure recognized in France and Europe with more than 250 million euros under management. The firm is focused on innovation and digital markets and targets high-growth, technology-driven companies, with proven product or service offerings that address the needs of a large market, and management teams that demonstrate entrepreneurial skills and strong execution capacities. Serena Capital backs the growth of its portfolio companies by providing financing and operational support at every stage of the company development. Serena Capital was established in 2008 and is based in Paris, France. www.serenacapital.com
Rickers Beteiligungs GmbH is the incubator of MobilityFund, an early stage venture fund focused on European mobility startups. MobilityFund is scheduled for a first closing in Q2 2018. The team has a wealth of experience in the mobility space and utilizes its extensive network from mobility startups to OEM-managers in Europe, North America, Asia and Israel. With our early stage investments, we enable
entrepreneurs to scale independently of strategics for longer while maximizing value. As the first independent specialized VC fund in the European mobility sector, we strengthen deal flow by monitoring the specific market more closely and building a reputation among startups as a first-call investor. For our portfolio companies, we strive to add value by supporting business development and by helping to identify viable exit strategies with our network and understanding of the industry. www.mobility.fund
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