Teralytics raises $17.5m to improve human mobility intelligence
Robert Bosch Venture Capital GmbH, the corporate venture capital company of the Bosch Group, is leading a $17.5m investment in Teralytics.
The Swiss software company has plans to build a platform that provides advanced mobility analytics powered by telecom network data.
The company revealed that the platform uses proprietary artificial intelligence to extrapolate insights, anonymised and aggregated.
Together with Robert Bosch Venture Capital GmbH, other strategic and financial investors participating in the round include Deutsche Bahn Digital Ventures, innogy Ventures, LBBW Venture Capital, Liil Ventures, alongside existing investors Atomico and Lakestar.
“As a leading provider of mobility solutions, we are excited to welcome Teralytics to our portfolio,” said Ingo Ramesohl, Managing Director at RBVC.
“The way people move changes rapidly and we look forward to shaping it together with Teralytics.”
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A study conducted by MarketsandMarkets on the “Transportation Systems and Analytics Market” has estimated this market at $57.46bn in 2018, at an estimated compound annual growth rate (CAGR) of 15.4% from 2013 to 2018.
“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 vision for mobility is particularly exciting,” said Alastair MacLeod, CEO at Teralytics.
“Simply throwing new modes of transportation at challenges such as congestion, traffic safety, crowded public transportation and long wait times, without a thorough understanding of how all people travel, is not delivering the desired results.
“There is a need for unbiased, all-encompassing insights into people’s journeys across all modes of transportation, in real-time.
“Human mobility is changing beyond recognition. The next ten years will bring a seismic shift in mobility technologies, comparable to the impact that transistor and personal computer advancements had on miniaturization and digitalisation.”
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