DENSO invests again in Ridecell, reinforces commitment to new mobility solutions
Participation in Series C financing round signifies DENSO’s focus on collaborative development and accelerating innovation
DENSO, a leading mobility supplier, announced it has invested again in mobility platform developer Ridecell as part of the company’s Series C financing round. DENSO first invested in Ridecell, which helps commercial fleets digitally transform their operations, in 2017.
DENSO’s investments strengthen ties between the companies and allow each to accelerate advances in connected solutions for mobility providers. These advancements are particularly useful to fleet operators looking for more seamless and efficient ways to manage fleet data, automate workflows and ensure secure vehicle access.
“Working with Ridecell and their fleet customers has been invaluable as we advance the development and commercialization of new mobility services,” said Rob Wunsche, director of Mobility Platform Services and New Product Innovation at DENSO. “When DENSO invests in partners, our mission is to leverage each other’s strengths to innovate, and with Ridecell, that translates to a powerful set of solutions for fleet owners.”
Ridecell’s ability to provide data insights and workflow automation for fleets, motor pools and trucking and logistics companies comes at a time when digital solutions are more important than ever. COVID-19 has raised consumer and enterprise rental demand, and increased the need for contactless reservation and entry and drop-off solutions in the shared vehicle market.
“The leading fleets in the world were already working on digital transformation,” said Aarjav Trivedi, CEO of Ridecell. “COVID-19 created an urgent need for them to accelerate digital access to their fleets, reduce risk by enabling self-service touch-less monetization across B2B and B2C business models, and reduce costs through automation. For Ridecell, it created opportunities to help many customers and partners quickly meet the shifting consumer and enterprise demand for fleet operations automation and contactless commerce. We are excited to continue that momentum, and welcome our C-round investors to our team as we deliver the premier technology platform for mobility companies and fleet operators in a post-pandemic era.”
Despite the challenges posed this year by COVID-19, DENSO remains committed to its Second Founding, the company’s strategy to enrich mobility and meet the evolving needs of its customers. As part of this, DENSO’s collaborative development with partners can help it expand into new mobility areas and build new revenue streams, all while making transportation safer, greener and more efficient for all. DENSO’s investment in Ridecell supports such efforts.