New Delhi: Woven Capital, LP, the funding arm of the Woven Planet Group, a Toyota subsidiary, has invested in Ridecell Inc, a number one platform powering digital transformation and IoT automation for fleet-driven companies.
Devoted to constructing the most secure mobility on the planet, Woven Capital is a USD 800 million international funding fund that helps revolutionary, growth-stage corporations in mobility, automation, synthetic intelligence, knowledge and analytics, connectivity, and good cities. Together with the funding, Ridecell and the Woven Planet Group will discover collaborative alternatives in mobility service operations, a media launch stated.
Woven Capital principal Michael Kato stated, “Ridecell is accelerating the digital transformation of a key a part of the mobility industry–creating a complete platform that connects fleets and automates workflow at scale. We’re excited to spend money on Ridecell and discover collaborative alternatives collectively, as we proceed to deal with revolutionary expertise that delivers protected, safe, environment friendly, and seamless mobility for all.”
The Woven Planet Group is on a mission to design a happier planet by way of safe, related mobility options. Initially based in 2018 as Toyota Analysis Institute – Superior Improvement, the corporate was expanded to the Woven Planet Group devoted to bringing its imaginative and prescient of “Mobility to Love, Security to Reside” to life.
Ridecell’s automation and mobility platform permits companies to create a unified view of their car fleets from deployed telematics, fleet administration, and inside techniques and use the consolidated insights to automate enterprise and operational workflows. The platform furthers digital transformation and turns knowledge overload into automated and environment friendly enterprise operations.
“This funding with Woven Capital shall be extremely strategic as Ridecell continues to broaden into new markets,” Aarjav Trivedi, founder, and CEO of Ridecell, stated. “We’re excited to have Woven Capital as our investor to deliver Ridecell automation and mobility improvements that use automation and digital car management to assist create protected and safe mobility,” he stated.
Ridecell powers fleet companies in cities throughout Europe and North America, together with Gig Automotive Share from AAA. Ridecell is headquartered in San Francisco, with workplaces in Madrid, Paris, Berlin, and Pune, India.
