rideOS Announces Funding, Mainly From Next47

Greg Hyde

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3rd August 2018

Start-up rideOS has announced that it has been awarded $25M in funding, with the majority coming from the Siemens-backed Next47.

At just a year old, rideOS provides transportation and mapping technology, aimed at both autonomous and human-operated vehicles. It already counts companies like Apple, Google, Tesla, and Uber among its client base, which it is clearly aiming to expand with this round of finance-raising. The company has previously collaborated with Singapore’s ST Engineering with the aim of accelerating autonomous adoption in the country.

Lak Ananth, CEO of chief investor Next47, said that the company “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”. He added rideOS’ software platform would “help transform the transportation landscape in cities across the globe, ushering in a new era of sustainability and efficiency”.

Also commenting on the funding round, rideOS CEO and co-founder Justin Ho said he viewed the move from human-driven to autonomous public transport as the biggest challenge for global cities since cars were first introduced. He added that the company hopes to work with “governments, OEMs, transportation network companies, and technology companies” in future.