US$25m series B investment for RideOS

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RideOS, a technology platform for the roll-out of next-generation fleets, has raised US$25m in series B funding, with a major part coming from Siemens’s venture arm Next47, meaning that RideOS will also be able to benefit from the company’s AV expertise.

In addition, RideOS is receiving funding from existing investor Sequoia Capital and a new investor, Singapore-based ST Engineering Ventures, bringing its total funding to US$34m.

Next47 will also be integral to RideOS’s mission to accelerate the safe, global roll-out of AVs through its presence in major cities. Next47 will be able to provide RideOS with global support and expertise in industrial and infrastructure technology to help it 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’s 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 toward this goal.”

By Illya Verpraet

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