CAMBRIDGE, Mass., Feb. 01, 2022 (GLOBE NEWSWIRE) -- Superpedestrian, the pioneering transportation robotics company, today announced its largest-ever funding round, closing $125 million in debt and equity capital. The latest investment comes from Jefferies, Antara Capital, the Sony Innovation Fund by IGV* and FM Capital alongside existing backers like Spark Capital, General Catalyst and Citi via the Citi Impact Fund.
The new funding will be used to expand the LINK shared e-scooter service, boost the company's advanced R&D programs, and deploy scooters with Superpedestrian's new Pedestrian Defense safety system in the first 25 cities across the US and Europe during 2022. The AI-based software fuses data from multiple vehicle sensors and integrates them with the scooter's on-board Vehicle Intelligence to take real-time action on the scooter.
Pedestrian Defense exceeds all other safety platforms in 3 key ways. It can:
- More precisely detect vehicle position even in urban canyons where GPS has high inaccuracy
- Detect a much wider array of unsafe riding behavior than any competitor, including sidewalk riding, stunt riding, aggressive swerving and "salmoning" against traffic
- Intervene automatically to slow or stop a scooter in real time when unsafe behavior like riding on a sidewalk is detected
Following successful field tests of Pedestrian Defense in recent months, the system will now be integrated into Superpedestrian's technologically advanced LINK e-scooter fleet, which has launched in 57 cities logging tens of millions of miles.
"Over the past 9 years, we have developed a unique software platform that addresses the core challenges of electric vehicle fleets. From predictive-maintenance and repair automation, to fine-grain locationing and curb management, our platform is rich with advanced capabilities that enable safer and more reliable transportation solutions," said Assaf Biderman, founder and CEO of Superpedestrian. "With this latest funding round, we are boosting our investment in R&D and scaling up our deployments in micromobility and beyond."
"Superpedestrian brings together best-in class vehicles, an advanced software platform, and efficient fleet operations, enabling them to safely integrate small electric vehicles into crowded city streets," said Gen Tsuchikawa, Chief Investment Manager for Sony Innovation Fund (SIF) and CEO and Chief Investment Officer for Innovation Growth Ventures (IGV). "With an experienced executive team and strong operations in a variety of markets and geographies around the world, we are pleased to welcome Superpedestrian to IGV's growing portfolio of promising mobility-focused startups."
"In the last two years, infrastructure challenges and lack of equitable access to transit options in both urban and suburban communities across the U.S. have underscored the need for developing safe, reliable transportation options for all," said Meredith Shields, Head of Citi Impact Fund, Citi. "Superpedestrian is doing just that by developing innovative, sustainable technology that reimagines the future of cities through improved connectivity. We're proud to use our capital to help scale their impact and build stronger communities in the years to come."
Superpedestrian was spun out of MIT in 2013 with the mission to develop the world's smartest and safest light electric vehicle fleets. In 2020, Superpedestrian debuted the LINK Scooter, heralded as "The Volvo of e-Scooters" for its patented Vehicle Intelligence platform that actively prevents costly mechanical and electrical hazards that beset other e-scooter operators. Superpedestrian has become a world-leader in transportation robotics and human-scale mobility, holding over 40 patents in autonomous failure protection for vehicles, automated maintenance software, fleet optimization, and vehicle context awareness.
Video: Watch Pedestrian Defense tech automatically stop a scooter riding on a sidewalk
Hi-resolution photos and video of Pedestrian Defense sidewalk riding prevention in action are available in Superpedestrian's press kit.
*Innovation Growth Ventures Co., Ltd. (IGV) is managed by Sony Innovation Fund and Daiwa Capital Holdings.
CONTACT: Wiley Norvell (Rubenstein); wnorvell@rubenstein.com; (646) 422-9614
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