Woven Capital invests in Ridecell to Foster global growth in IoT-driven Automation for Mobility and Fleet Optimization

CIO Applications| Friday, July 02, 2021

Ridecell and the Woven Planet Group will investigate joint prospects in mobility service operations in addition to the investment.

FREMONT, CA: Woven Capital announced that it has invested in Ridecell, a premier platform for fleet-driven businesses that powers digital transformations and IoT automation. Woven Capital is an 800 million dollar worldwide investment fund that backs creative, early-stage firms in mobility, automation, A.I., data and analytics, connectivity, and smart cities.It is also the investment arms of the Woven Planet Group, a Toyota subsidiary dedicated to creating the world's safest mobility. Ridecell and the Woven Planet Group will investigate joint prospects in mobility service operations in addition to the investment.

"Ridecell is accelerating the digital transformation of a key part of the mobility industry – creating a comprehensive platform that connects fleets and automates workflow at scale," said Michiko Kato, Principal, Woven Capital. "We are excited to invest in Ridecell and explore collaborative opportunities together, as we continue to focus on innovative technology that delivers safe, secure, efficient, and seamless mobility for all."

"This investment with Woven Capital will be highly strategic as Ridecell continues to expand into new markets," said Aarjav Trivedi, founder and CEO of Ridecell. "We are excited to have Woven Capital as our investor to bring Ridecell automation and mobility innovations that use automation and digital vehicle control to help create safe and secure mobility."

Ridecell's automation and mobility platform enable businesses to establish a unified view of their vehicle fleets by combining data from deployed telematics, fleet management, and internal systems and then automating business and operational operations using the aggregated insights. The platform helps to accelerate digital transformation by converting data overload into automated and efficient processes.