Israeli AI fleet optimization co Autofleet raises $7.5m
17 April 2020 - globes
Autofleet has already partnered with global fleets and manufacturers such as Avis Budget Group, Zipcar, Keolis and Suzuki.
Israeli AI-powered fleet optimization and vehicle-as-a-service solutions company Autofleet, today announced the completion of a $7.5 million combined Series A and seed financinground. The Series A round was led by MizMaa Ventures with participation from mobility-focused investors Maniv Mobility, Next Gear Ventures and Liil Ventures, and the seed financing was led by Maniv Mobility.
Autofleet offers fleet owners and operators the tools to thrive and innovate in the new mobility landscape by automating fleet management for organizations including rental car companies, car sharing operators and car manufacturers to optimize existing business models and enable the launch of new mobility services. Autofleet has already partnered with global fleets and manufacturers such as Avis Budget Group, Zipcar, Keolis and Suzuki. Autofleet's platform transforms the vehicle into an elastic asset so that vehicles and rides can be spun up using an API. The platform leverages AI-based demand prediction and advanced rebalancing algorithms to centrally manage the fleet, breaking the dependence on manual and local decision making processes. By minimizing downtime and allowing for algorithmic dispatch of vehicles, the platform is designed to achieve more sustainable and profitable utilization of traditional fleet assets. Autofleet also provides a Ride & Vehicle simulator to enable operators to accurately plan and de-risk potential fleet deployments without needing a single vehicle on the road.
Autofleet CEO Kobi Eisenberg said, "Autofleet's mission is to provide fleet owners the tools needed to realize the full potential of asset-heavy fleets in their transition to becoming the mobility service providers of the future."