Ridecell Inc., has closed its Series B funding round of $28.61 million. The investment round was led by Cox Automotive, with participation from return investor Initialized Capital. Additional funding came from industry partners across the mobility ecosystem, including DENSO, Penske, Deutsche Bahn and Mitsui.
These strategic partnerships connect Ridecell to a portfolio of tier-one partners who provide critical products and services to mobility operators. Ridecell’s work with these partners in fleet management services, vehicle components, and emergency roadside services will increase the value mobility operators gain in these areas without having to reinvent the wheel for every integration.
Additionally, Ridecell has unveiled the first details of its Developer API suite, which allows partners to take creative control of their new mobility experience by designing their own app or web interface built on the Ridecell platform.
Ridecell’s funding partners all recognize the fundamental transformation represented by mobility services. Penske and Mitsui are exploring solutions to leverage the changing transportation services landscape, including the importance of identifying and developing new urban mobility services as part of Penske’s core business model. DENSO is working on hardware designed specifically for new-mobility use cases. All this expertise is currently being leveraged into a more complete and robust Ridecell ecosystem.