Autofleet closes $ 20 million oversubscribed Series B


TEL AVIV, Israel, Oct. 28, 2021 (GLOBE NEWSWIRE) – Autofleet, a leading optimization platform for fleet owners and operators, today announced that it has closed its Series B funding round $ 20 million oversubscribed. The round was led by Keyframe Capital and includes new investments from Fujitsu Ventures Limited (Fujitsu) and The Goodyear Tire & Rubber Company (Goodyear). Existing investors, including Mizmaa Ventures, Maniv Mobility and Next Gear Ventures, also participated in the round. In addition to developing its R&D team, Autofleet will use the proceeds to open offices in Singapore, London and New York to accelerate its growth and support its clients in these markets.

“We are delighted with the participation of our new and former shareholders, as well as the strategic investments of leading technology and automotive brands,” said Kobi Eisenberg, CEO of Autofleet. “Their support is both a validation of our team and our technology, as well as a springboard for our continued global growth. “

Autofleet enables fleet owners and operators to improve the customer experience, optimize fleet efficiency, and increase the profitability of their existing business models while allowing them to deploy those same assets in service areas. mobility on demand for carpooling / pooling and “last mile” parcel delivery.

“Autofleet’s technology is a perfect complement to Fujitsu’s logistics and mobility solutions,” said Shunichi Ko, Head of Digital Transportation Business Unit at Fujitsu Limited. “We look forward to meeting the growing demand from our customers around the world looking for ways to optimize their logistics activities to efficiently use their fleets. We also expect that we will be able to simultaneously contribute to solving some of the pressing issues facing society, including the environmental impact of increasing CO2 emissions and labor shortages in logistics. .

Autofleet’s platform leverages advanced machine learning models for real-time demand forecasting, automated generation and management of maintenance / servicing tasks, optimized dispatch and routing, and dynamic pricing to help existing fleets become more efficient. The robust and automated routing and dispatch engine enables immediate optimization of delivery / logistics services, passenger movements and field service operations, all from a single platform. Autofleet also provides a Ride & Vehicle simulator to allow operators to accurately plan and reduce the risk of potential fleet deployments without the need for a single vehicle on the road.

“Goodyear is well positioned to support Autofleet’s growth through its network of mobile and Goodyear automotive service centers,” said Abhijit Ganguly, Managing Director of Goodyear Ventures. “Goodyear helps fleets deliver increased efficiency and vehicle readiness and this collaboration will help us learn from Autofleet while supporting them in the marketplace. “

Since closing its Series A last year, Autofleet has expanded operations in more than 12 countries, partnering with fleets in key verticals including rental, carsharing, ridesharing, taxi, logistics and micromobility, demonstrating a significant improvement in key fleet performance indicators. (KPI) such as reducing fleet downtime by 80%, reducing customer wait times by 15% and increasing usage and revenue by 10%.

“Autofleet’s core value proposition – helping fleets of all types and sizes of vehicles become more efficient and quantifying these efficiencies for their customers in terms of monetary, environmental and improved operational management measures – is , in our opinion, a huge market opportunity in itself. Said Ethan Goldsmith, partner at Keyframe Capital. “But Autofleet’s ability to enable underutilized or even new fleets to ‘accumulate value’ by accessing the exploding market for mobility services makes it an even more exciting opportunity from our perspective. . “

About the automatic fleet
Autofleet provides the leading Vehicle-as-a-Service platform for fleets to optimize existing operations and seamlessly launch new business models from existing assets. The platform leverages advanced machine learning algorithms for demand prediction, optimized placement and matching, automated management of pit stops and fleet entry / exit, and more. More information is available at https://www.autofleet.io/.

About keyframe capital
Keyframe is a New York-based multi-asset investment firm. The generalist and multi-asset mandate of the company allows it to invest in a wide range of business models and capital structures. Keyframe seeks to build long-term partnerships with businesses and leverage its flexibility to help them solve their most complex asset and corporate finance needs. For more information, please visit https://www.keyframecapital.com/.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/cb58d123-cc87-4724-b57a-e9c4b79fe1f9


        


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