Innogy Ventures has invested in mobility data specialist Teralytics, contributing towards the firm’s US$17.5 million funding round.
The round was led by Robert Bosch Venture Capital, with other participants including Deutsche Bahn Digital Ventures, LBBW Venture Capital and Liil Ventures, alongside existing investors Atomico and Lakestar.
Switzerland-based Teralytics is establishing a software platform that uses telecom network data to provide advanced mobility analytics, essentially using data science techniques to piece together insights that can be used by cities and transport services to understand, predict and improve journeys.
It’s expected that these insights will be used to support the electrification of transport in particular, helping to optimise EV charging infrastructure locations and areas of possible constraint.
The proceeds from its funding round are to be used to expand its global footprint, with Teralytics intending to cover the journeys of more than one billion people.
Thomas W Thomas, managing director at innogy Ventures, said Teralytics was well positioned to unlock the data needed to improve mobility.
“We are amazed by the insights the Teralytics platform offers for the future use of electric vehicles, the optimisation of charging station locations and the implications for electricity grid operations,” he said.
Innogy Ventures is the VC investment arm of innogy’s Innovation Hub, which the utility established to seek out and incubate new and emerging technologies which could make meaningful contributions to the energy transition.
