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TEL AVIV, Israel, March 10, 2021 /PRNewswire/ Optibus, the cloud-native AI platform for planning and operating mass transportation, announced today that it has raised $107 million in a Series C round, co-led by Bessemer Venture Partners and Insight Partners. The funding comes as Optibus is launching one of its most significant updates: the Geospatial Suite, which significantly improves transportation networks and transit equity through the use of data-driven planning.
Optibus will use the funding to continue expanding its global presence and enhance product capabilities such as optimization and artificial intelligence algorithms that improve mass transit for passengers while also increasing operational efficiency. The funding will also go toward accelerating the deployment of zero-emission vehicles - replacing mass transit fleets based on fossil fuels and lowering emissions worldwide, just as the U.S. rejoins the Paris Agreement and the mitigation of climate change once again
Optibus picks up $107M for an AI-based planning and operations platform aimed at mass transportation
Mass transportation is a critical part of how metropolitan areas keep moving, and today a startup that has built an AI-based platform to help mass transportation work more efficiently is announcing a huge round of funding to grow its business and tackle a new set of opportunities and challenges in the modern city.
Optibus a Tel Aviv-based startup that provides a platform to analyze how vehicles and people move around in cities and then provides navigation, scheduling, driver rostering and other guidance for mass transportation providers to service those cities better has picked up $107 million, a Series C that it will be using to continue expanding the kinds of services that it provides to customers.
Tel Aviv-based startup uses AI, algorithms and cloud computing to perform deep analysis and number-crunching on anything that could affect public vehicle schedules
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