Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

rideOS announces $25M Series B led by Next47 to advance the rollout of self-driving cars in Europe

Transportation technology platform raises Series B from Next47, Siemens’ venture arm, with participation from Sequoia Capital and ST Engineering Ventures

rideOS, a technology platform designed to accelerate the safe, global roll-out of next-generation transportation fleets, today announced it has raised $25 million in Series B funding.

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 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 investment from Next47 will be used to help rideOS expand its services to global transportation markets. Through Next47’s Catalyst organization, a global team dedicated to leveraging the Siemens ecosystem in order to help startups achieve their business goals, rideOS will benefit from Siemens’ global presence, longstanding partnerships, and strategic involvement. Next47 will also be integral to rideOS’ mission to accelerate the safe, global rollout of self-driving cars through its presence in major cities on nearly every continent. Next47 will be able to provide rideOS with global support and deep expertise in industrial and infrastructure technology to help rideOS complete the self-driving car stack.

“rideOS represents an essential part of the next-generation mobility stack, connecting the software, hardware, and infrastructure that are necessary to deploy self-driving technology at scale,” said Lak Ananth, CEO and Managing Partner at Next47. “Digital tools and resources like rideOS’ mobility platform will help transform the transportation landscape in cities across the globe, ushering in a new era of sustainability and efficiency. We believe our investment in rideOS, and the power of Siemens behind us, will help accelerate progress towards this goal.”

The Series B closely follows two key partnership announcements with Autonomic, a Ford subsidiary, and Singapore’s ST Engineering (ST Engg). rideOS and ST Engg have partnered to expedite the safe rollout of autonomous mobility systems in Singapore, and ST Engineering Ventures’ subsequent participation in rideOS’ Series B serves as additional validation of the companies’ strong commitment to creating a global collaborative framework for a next generation traffic control system for self-driving vehicles.

“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,” said rideOS CEO and co-founder, Justin Ho. “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.”

“When we first met with rideOS last year, we knew they were approaching self-driving car technology with a global view,” said Mike Vernal, Partner at Sequoia Capital, who led rideOS’ Series A. “They have already become the trusted partner of Fortune 500 companies and startups alike, and we’re excited to work alongside Next47 and ST Engineering Ventures to further rideOS’ mission.”