Auto Platform Ridecell Closes $28.6 Million in Series B Funding

Ridecell Inc., creators of a carsharing, ridesharing, and autonomous fleet operator platform, raised a Series B funding round of $28.6 million led by Cox Automotive, with participation from return investor Initialized Capital and industry partners DENSO, Penske, Deutsche Bahn, and Mitsui.

According to the company, Ridecell’s partners in fleet management services, vehicle components, and emergency roadside services integrate its comprehensive mobility ecosystem to facilitate growth, improve customer user experience, and build more sustainable businesses.