Germany utility Innogy has invested in what is claimed to be the world’s first intelligent mobility operating system.
The $17.5 million investment made in Swiss-based Teralytics AG was done via the utility’s venture capital investment arm Innogy Ventures.
Teralytics is building a platform which leverages telecom network data to provide advanced mobility analytics.
The platform uses data science and machine learning algorithms to help cities and transport services to make use of mobility insights to improve the operations of modes of transport.
For instance, cities are able to optimise their EV charging networks and grid operations despite spikes in energy demand due to EVs at the same time accelerating the shift to electric mobility and sustainability efforts.
Teralytics will use the funding to expand its geographic outreach and serve up to 1 billion people, To date, the firm has offices in New York and Singapore, and serves mobility consumers in more than 10 countries.
The funding round was led by Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group and included Deutsche Bahn Digital Ventures, LBBW Venture Capital and Liil Ventures, Atomico and Lakestar.
Alastair MacLeod, CEO at Teralytics, said: “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 W. Thomas, managing director at Innogy Ventures, added: "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."
Innogy Ventures GmbH is the €130 million venture capital investment arm of the Innogy Innovation Hub. The arm has created a €162 million portfolio (as of December 2018) through investing in disruptive individuals, start-ups and early stage businesses and provided opportunities for nearly 90 start-up and scale-up companies to collaborate.