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Optibus Raises $107M, Adds Equity Tools to Platform Can data help make transit more equitable? While pulling in a giant investment round, the startup Optibus is working on ways to put demographics and other data into the hands of local transportation officials. Shutterstock Optibus, a startup offering cloud-based routing, optimization and planning features for public transit, has raised a giant Series C investment round of $107 million. The company, which is headquartered in Tel Aviv but has four U.S. offices, is pulling in the money just as it adds new functionality to its platform aimed at equity and neighborhood context. The Geospatial Suite gives users more information about how changes to routes would affect different areas, including demographic information. It also shows the ways that transit connects with the nearby community bike paths a cyclist would take to a bus stop, a school that a rider might be headed to, etc. ....
(1) 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 o ....
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. ....