Germany utility Innogy has invested in what is claimed to be the world’s first intelligent mobility operating system.
The $17.5 million investment made in Swiss-based Teralytics AG was done via the utility’s venture capital investment arm Innogy Ventures.
Teralytics is building a platform which leverages telecom network data to provide advanced mobility analytics.
The platform uses data science and machine learning algorithms to help cities and transport services to make use of mobility insights to improve the operations of modes of transport.
For instance, cities are able to optimise their EV charging networks and grid operations despite spikes in energy demand due to EVs at the same time accelerating the shift to electric mobility and sustainability efforts.
Teralytics will use the funding to expand its geographic outreach and serve up to 1 billion people, To date, the firm has offices in New York and Singapore, and serves mobility consumers in more than 10 countries.
The funding round was led by Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group and included Deutsche Bahn Digital Ventures, LBBW Venture Capital and Liil Ventures, Atomico and Lakestar.
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