rideOS Has Received European Investment for the Global Expansion of our Next-Generation Transportation Platform
Today, we are happy to share the news that rideOS has raised a $25M Series B led by Next47, a global venture firm created by Siemens AG. Our existing investor, Sequoia Capital, participated in the round and our new partner, ST Engineering (which we announced a couple weeks ago), also participated through their investment arm, ST Engineering Ventures. This Series B brings our total funding to $34M.
Through Next47’s investment, rideOS will benefit from Siemens’ global presence in major cities on nearly every continent. Siemens’ longstanding partnerships with European transportation markets will help us unlock opportunities to seek partnerships and work with cities, OEMs, and ride-hailing and technology companies to invent and deploy a next-generation traffic control system. By working with Siemens and other European technology companies, transportation providers, and OEMs, we’re confident that the future of mobility will arrive sooner and be safer.
Siemens has a long history of innovation — in the late 1800s, a Siemens water-powered generator was used to power the first electric street lights. The company is known for being one of the world’s largest producers of sustainable technologies, leading solutions across numerous industries including (but not limited to) energy, transportation, and industrial manufacturing. Today, Siemens is focused on bringing more electrification, automation, and digitalization to the world. Like rideOS, they envision a future in which mobility systems are sustainable, safer, and more accessible. It’s an honor to work with an historic company whose future vision is so well aligned with our own, and we’re excited to learn from their work as a global leader.
We’re equally excited to introduce Debjit Mukerji, Director at Next47, the Siemens-backed global venture firm, who will be joining our board. Debjit has decades of experience in growing companies and will play a critical role in helping us bridge the gap between Silicon Valley and traditional Industrials companies. Strategic involvement from Siemens’ senior executive team will provide the deep expertise in industrial and infrastructure technology that will help us build an end-to-end systems solution for cities deploying next-generation mobility services.
We’re also excited that ST Engineering Ventures is participating in our Series B. Their investment serves as additional validation of our partnership with ST Engineering and our collective commitment to create a global collaborative framework. Our recent partnerships with companies like Autonomic, which is a Ford subsidiary, and ST Engineering, in addition to investments and valuable advisors from Next47 and Sequoia, have brought us closer to achieving our mission to accelerate the safe, global roll-out of next-generation transport.
Self-driving vehicles and other forms of next-generation transportation will be the biggest paradigm shift in our cities since the transition from horse and buggy to automobile, and we will continue to seek collaborative partnerships with governments, OEMs, transportation network companies, and technology companies to prepare for a driverless future.
If your company is interested in joining the next generation transportation ecosystem, we invite you to get in touch with us at contact@rideos.ai
