rideOS has raised $25 million in Series B funding. The company designs and builds a next-generation marketplace and mapping services that can be utilized by ride hailing companies, OEMs, logistics providers, and governments to operate on-demand transportation services for both self-driving and human-operated fleets.
Next47, the Siemens-backed global venture firm, led the round with participation from existing investor Sequoia Capital and a new investor, Singapore-based ST Engineering Ventures. Next47 will also join the rideOS board and will be integral in guiding rideOS in European transportation markets.
The Series B investment brings rideOS’ total funding to $34 million. The company aims to utilize the investment to expand its services to global transportation markets. rideOS has also recently entered into partnership with Autonomic, a Ford subsidiary, and Singapore’s ST Engineering (ST Engg).
rideOS CEO and co-founder, Justin Ho commenting on the announcement said:
“The past 12 months have been a whirlwind of signing partnerships, funding rounds, and reaching our internal milestones, and we couldn’t be happier to have Next47 join us as we embark on this next phase of rideOS“
Emphasizing his keenness to work with different stake holders he said: “Cities with next-generation transportation are undergoing the biggest paradigm shift since the transition from horse and buggy to automobile. We want to work with governments, OEMs, transportation network companies, and technology companies to prepare them for a driverless future.”