Switzerland-based Teralytics has raised $17.5 million for what is described as “the world’s first intelligent mobility operating system”.
innogy Ventures, the venture capital investment arm of innogy Innovation Hub, has invested in Teralytics as part of a $17.5 million funding round. innogy Ventures and innogy Innovation Hub are backed by innogy SE, a leading German energy company.
The round was led by Robert Bosch Venture Capital, the corporate venture capital company of the Bosch Group. Other participants included Deutsche Bahn Digital Ventures, LBBW Venture Capital and Liil Ventures, as well as existing investors Atomico and Lakestar.
Zurich-based Teralytics is claimed to be “the world’s first company to unlock truly inclusive data on people’s journeys”. The Swiss software company is building a platform to provide advanced mobility analytics powered by telecom network data.
Using data science and proprietary machine learning algorithms, it provides actionable mobility insights to help cities and transport services understand, predict and improve journeys across all modes of transport.
At a time of growing urbanisation and environmental awareness, these insights support the world’s shift to electric mobility, helping to optimise charging station locations and transform the electricity grids based on predicted demand.
Zurich-based Teralytics, which also has offices in New York and Singapore, plans to use the new funding to expand its geographic footprint to become a global marketplace for mobility insights and cover the journeys of more than one billion people.
It currently provides mobility data products for infrastructure developers, transport planners and shared mobility services across more than 10 countries.
Alastair MacLeod, Teralytics’ CEO, says: “We are delighted to have attracted such an outstanding syndicate of investors. The group comprises both astute financial investors with impeccable track records, and extraordinary domain-relevant strategic partners – RBVC, Deutsche Bahn and innogy. Our fit with their long-term vision for mobility is particularly exciting.
“Human mobility is changing beyond recognition. The next ten years will bring a seismic shift in mobility technologies, comparable to the impact that transistor and personal computer advancements had on miniaturisation and digitalisation. We are building a global company which will put us at the epicentre of these transformational changes.”
Thomas Thomas, managing director of innogy Ventures, says: “We are very excited to support Alastair and the Teralytics team on their journey to scale their global platform for mobility insights.
“We are convinced that this exceptional team, with their strong track record in building the leading analytics technology stack, is well positioned to unlock the data the world needs to improve human mobility, both in terms of delivering a better service at lower cost and with minimised environmental impact.
“We are amazed by the insights the Teralytics platform offers for the future use of electric vehicles, the optimisation of charging station locations and the implications for electricity grid operations.”