Drover AI, a Big Sky, Mont.-based provider of advanced AI-based IoT solutions for last-mile transportation, closed on a $5.4 million Series A funding.
The round was led by Vektor Partners, with follow-on participation from seed investors Avesta Fund, Masik Enterprises, and Kurt Jaggers, who joined existing investor 500 Global.
The company intends to use the funds to scale up its innovative solutions for computer vision and artificial intelligence in micromobility.
Company: Drover AI
Raised: $5.4M
Round: Series A
Funding Month: July 2022
Lead Investors: Vektor Partners
Additional Investors: 500 Global, Avesta Fund, Masik Enterprises, and Kurt Jaggers
Company Website: https://www.drover.ai/
Software Category: AI-based IoT solutions
About the Company: Led by Christian Scheder-Bieschin, co-founder and CEO, and Alex Nesic, Drover AI specializes in advanced AI-based IoT solutions for last-mile transportation designed to elevate the performance of fleets while exceeding the regulatory requirements of the cities that host them. Drover’s product, PathPilot, delivers cost-effective granular infrastructure distinction even in the absence of often unreliable GPS data allowing for location awareness and the ability to take corresponding actions. Since its founding in early 2020, Drover AI has established itself as the leader in the space, with currently over 5,000 PathPilot units in operation on shared scooters across the US, EU, and Asia with industry-leading operators like Spin (owned by Tier), Voi, Bolt, Beam, Dott, and Helbiz.
Source: https://www.finsmes.com/2022/08/drover-ai-raises-5-4m-in-series-a-funding.html