News follows a series of investments in consumer mobility
Cox Automotive leads $28M investment round in mobility platform
Thursday May 31, 2018
Article Highlights
- The investment that Cox Automotive has made in consumer mobility over the last handful of years continued with a major move on Thursday.
- The company is the lead investor in a $28.61 million Series B funding round for Ridecell, a software platform used to run mobility services like carsharing, ridesharing and autonomous fleet management.
- “Cox Automotive’s strategic investment in Ridecell is another tangible move we are making in the mobility space, and a clear indication of our belief in Ridecell as a world-class provider of ridesharing and carsharing technology,” said David Liniado, who is Cox Automotive’s vice president of new growth and development, in a news release.
CARY, N.C. – The investment that Cox Automotive has made in consumer mobility over the last handful of years continued with a major move on Thursday.
The company is the lead investor in a $28.61 million Series B funding round for Ridecell, a software platform used to run mobility services like carsharing, ridesharing and autonomous fleet management.
Additional participation in the round came from return investor Initialized Capital, along with industry partners DENSO, Penske, Deutche Bahn and Mitsui.
Thursday’s news follows a series of investments Cox Automotive has made in the space since 2014. Last year, the company invested in Ouster, which is building affordable LiDAR sensors used in autonomous vehicles.