Transportation Tech Startup rideOS Announces $25 Million Series B
rideOS, a technology platform designed to accelerate the safe, global rollout of next-generation transportation fleets, raised $25 million in Series B funding. Next47, the Siemens-backed global venture firm, led the round with participation from existing investor Sequoia Capital and a new investor, Singapore-based ST Engineering Ventures. Next47 will join the rideOS board and will be integral in guiding rideOS in European transportation markets. The Series B investment brings rideOS’ total funding to $34 million.
Through Next47’s Catalyst organization, a global team dedicated to leveraging the Siemens ecosystem in order to help startups achieve their business goals, rideOS will benefit from Siemens’ global presence, longstanding partnerships, and strategic involvement. Next47 will also be integral to rideOS’ mission to accelerate the safe, global rollout of self-driving cars through its presence in major cities on nearly every continent. Next47 will be able to provide rideOS with global support and deep expertise in industrial and infrastructure technology to help rideOS complete the self-driving car stack.
rideOS plans to use the investment from Next47 to help expand its services to global transportation markets.