Car manufacturer BMW has led an $11.7m series A round for US-based mobility software developer RideCell through its BMW I Ventures subsidiary.
The round also featured venture capital firm Khosla Ventures and angel investors including Mark Platshon, Michael Granoff, Gokul Rajaram, Mehul Nariyawala and Navneet Dalal.
RideCell is developing software that will power mobility apps to provide users with services such as car and ride sharing, and fixed-route and dynamic transit. It automates end-to-end operations covering fleet management, demand and supply analytics, marketing, customer relationship management and payments.
The software can also group together data from mobility apps, infrastructure operators, transit operators and sensors to give cities the information required to make decisions covering planning and transport.
RideCell intends to use the funding to increase the size of a client base that already includes BMW, manufactured product provider 3M and transit agency Santa Clara VTA. It previously raised $15.9m of a planned $25.9m round in September 2015, according to a securities filing.
Ulrich Quay, head of BMW I Ventures, said: “The convergence of transportation trends in cities is of key importance to BMW. RideCell’s technology platform provides agile tools to power services that span the entire mobility spectrum, including but not limited to car sharing; making them an ideal partner for BMW.”