- From urban air mobility (UAM) to autonomous driving, CVC makes its third investment in curbside management technology to reduce curbside congestion and carbon emissions
SEOUL, South Korea, March 08, 2023 (GLOBE NEWSWIRE) -- Next Century Ventures (NCV), NEXEN TIRE's corporate venture capital arm, announced its investment in Automotus, a leader in curbside management technology, to meet NCV's goals to revolutionize the mobility industry.
Automotus, founded in U.S. in 2017, collaborates with government, institutions, and mobility innovators across the country to test and evaluate curbside management techniques in order to minimize curbside congestion emissions and expedite developments in zero-emission vehicles. Furthermore, it is increasing its automated management with a camera-based, completely automated AI platform that collects and analyzes data at the curb such as traffic flow, parking, and loading activity.
Together with NEXEN TIRE, other investors include Techstars, a top early stage investor and incubator, the Los Angeles Cleantech Incubator (LACI), and QUAKE Capital Partners.
"We are incredibly happy to have Next Century Ventures participate in this investment round. They have a deep knowledge of our industry, domestically and internationally," said Jordan Justus, CEO of Automotus. "We look forward to collaborating with them more closely as we continue to expand beyond North America."
"We are thrilled to invest in Automotus, a leader in curbside management with a proven track record of increasing mobility across all modes of transportation and achieving outcomes to cut carbon emissions," said Bon Hyong Goo, CEO of Next Century Ventures. "NCV believes in Automotus' vision and looks forward to working actively with the firm to support its strategic goals."
About NEXEN CENTURY VENTURES (NCV)
Launched in March 2021 via a joint investment with NEXEN CORP, the holding company of NEXEN TIRE, Next Century Ventures (NCV) announced plans to accelerate the corporate vision of improving overall customer mobility beyond tires by targeting innovative entrepreneurs that possess expertise in technologies such as autonomous vehicles, electric vehicles, artificial intelligence, and mobility-as-a-service (MaaS).
For more information, please visit http://nextcentury.vc/
About Automotus
Automotus is dedicated to making communities safer, healthier and more accessible by addressing the unprecedented rise in commercial vehicle congestion and emissions. With first-of-its-kind computer vision technology deployed at the curb, Automotus helps cities, airports, fleets, and small businesses manage curbside activity, make data-driven policy decisions, and incentivize electric vehicle adoption—all without the need for a parking app or kiosk.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7ad7c590-85e7-45b6-929d-8efa8788365e
