Automotive supplier Denso announced it will invest in Ridecell, a platform for carsharing and ridesharing operators, as a contributor to the company's recent Series B funding round.
Ridecell technology provides a platform for automakers, auto dealerships, and other new mobility providers to launch and operate mobility solutions, such as carsharing or ridesharing programs. Denso says that it has, to date, provided funding to startups focusing on four core areas: autonomous driving, connected vehicles, cybersecurity, and mobility and IoT.
"The transportation and automotive startup community has transformed over the past few years, and mobility is at the core," said Tony Cannestra, Director of Corporate Ventures at Denso. "Established industry leaders and startups need to work together to craft products and solutions ushering in the future of transportation. Denso believes that Ridecell provides a foundational technology for the future of mobility."
Ridecell integrates technology to automate the end-to-end process of carsharing or ridesharing programs, from registration to scheduling and payment. Denso’s investment is expected to help mature the company's offerings.
"Ridecell and Denso share a vision of safer, more efficient, and sustainable mobility solutions," said Aarjav Trivedi, CEO of Ridecell. "Through our cooperation with Denso, we'll continue to develop a platform making it easier for cities, campuses, and mobility providers to build and scale carsharing and ridesharing programs."