US-based vehicle management software developer Bestmile has raised $16.5m in a series B round featuring airport operator Groupe ADP and Airbus Ventures, the corporate venturing arm of aerospace technology provider Airbus.
The round was co-led by venture capital firms Blue Lagoon Capital and TransLink Capital, with contributions from Road Ventures, Partech Ventures, Serena Capital and undisclosed additional investors.
Founded in 2014 as a spinout of research institute and university EPFL, Bestmile has created a platform that can be used to manage mobility operations such as ride hailing services, regardless of whether they contain manual or autonomous vehicles.
The funding will go to product development and expanding Bestmile’s sales team. Rodney Rogers and Kevin Reid from Blue Lagoon will join the company’s board of directors, the former as chairman.
Road Ventures led Bestmile’s $11m series A round in March 2018, investing with Groupe ADP, Airbus Ventures, Partech, Serena Capital and MobilityFund. It followed $5.5m in seed capital from Airbus Ventures, Partech, Serena Capital, Perot Jain, Forticap and various angel investors in 2017.