Teralytics Raises $17.5 Million to Improve Human Mobility Worldwide
The world's leading investors in smart technologies have joined forces to back the global leader in multi-modal mobility intelligence
ZURICH, Aug. 6, 2019 /PRNewswire/ -- Teralytics AG announced today it has raised $17.5 million in a round led by Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group; alongside Deutsche Bahn Digital Ventures, innogy Ventures, LBBW Venture Capital, Liil Ventures, and existing investors Atomico and Lakestar. Teralytics is building advanced mobility insights solutions powered by telecom network data to help cities and transport services understand, predict and improve people's journeys.
The funding follows a period of growing commercial traction and expansion into more than 10 countries. Teralytics now plans to expand its reach further to cover over a billion of journeys and become a global marketplace for mobility insights.
"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 vision for mobility is particularly exciting," said Alastair MacLeod, Teralytics' CEO.
"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 miniaturization and digitalization. We are building a global company which will put us at the epicenter of these transformational changes."
The way the world moves is changing, posing new challenges for cities and transportation services. New modes of transportation such as ride-sharing, bike-sharing and e-scooters are now present in every major metropolitan area. All the while, the automotive industry is going through a paradigm shift from selling cars to offering innovative mobility services. Cities worldwide are looking for ways to take advantage of these new technologies and services, while also coping with aging mobility infrastructures. All of them need an understanding of how these impact their residents, however the lack of quality insight is hindering critical planning and compromising operational decisions. There is a need for unbiased, comprehensive insights into people's journeys across all modes of transportation, in real-time.
Zurich-based and with offices in New York and Singapore, Teralytics partners with telecom network operators to solve the challenge with the most accurate indicator of people's movement – their mobile devices, the one thing everyone has with them at all times. Teralytics is developing global mobility insights and analytics solutions for transport operators and planners, mobility services and cities to better understand how people travel and how new modes of transportation affect the entire transport network.
"As a leading provider of mobility solutions, we are excited to welcome Teralytics to our portfolio," said Dr. Ingo Ramesohl, Managing Director at RBVC. "The way people move changes rapidly and we look forward to shaping it together with Teralytics."
About Teralytics AG
Teralytics is a technology company that provides unprecedented insights into people's journeys.
Until now, cities and mobility services have been designed based on assumptions of how public authorities and private companies expect people to move. But, they aren't taking the journeys of the whole population into consideration. As a result, for many, mobility is limited. Not just physically, but socially and economically. It's stopping people from reaching their full potential. Ineffective transport services can be the difference between a job not taken and a family life compromised.
Teralytics partners with mobile network operators to solve this problem with the most accurate indicator of people's movement – their mobile devices. It's the one thing everyone has with them at all times. And the cell towers receiving their signals don't discriminate based on device model or apps. Due to its complexity and scale, mobile network data has been nearly impossible to understand or utilize. That's why Teralytics has pioneered a way to translate it into actionable insights. For the first time, Teralytics has unlocked truly inclusive data on people's journeys. Additional information at https://www.teralytics.net/
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