Drover AI has pioneered the use of computer vision and onboard machine learning in the large and growing micro-mobility sector, enabling enhanced safety and regulatory compliance while providing opportunities to explore the added value from the unique insights generated by its data.
Drover AI technology is the first company to have a widespread presence on more than 5,000 shared scooters across 3 continents with industry-leading operators such as Spin (owned by Tier), Voi, Beam, Dott and Helbiz,
Drover AI will use the funds to expand delivery of existing orders, and accelerate the integration of new PathPilot Lite technology with vehicle manufacturers and the Internet of Things for next-generation small mobility vehicles.
Big Sky, Mont.And the August 2, 2022 /PRNewswire/ — Drover AI announces closing in a $5.4 million The Series A funding round, led by Victor Partners and with subsequent participation from seed investors including Avesta Fund, Macic Enterprises and Kurt Jaggers. They join current investor 500 Global to support the scaling of its innovative computer vision and artificial intelligence solutions in micro-mobility.
Drover AI pioneered the use of onboard computer vision (CV) and machine learning (ML) in the precision navigation sector with its first product, PathPilot. The initial implementation enabled enhanced safety and regulatory compliance due to PathPilot’s ability to reliably do what no other technology can so far – detect sidewalks, streets and bike lanes on the go and verify correct parking compliance at the end of the ride. An Edge/ML-based resume not only provides unprecedented real-time contextual location awareness, but also offers opportunities to explore the added value of cities and operators from unique insights generated by insight-based data collected from mobile assets.
“We are very fortunate to have the support of Vektor Partners in our mission to leverage computer vision and artificial intelligence for the benefit of accurate navigation and its long-term success,” said Christian Scheder-Peschen, Co-Founder and CEO of Drover AI. “The team at Vektor contributes real strategic knowledge of the mobility space as well as understanding the huge potential value that exists in collecting vision-based data from fleets of small mobility vehicles.”
“Micromobility is a huge market, and it will continue to grow rapidly throughout this decade. Drover technology solves many pain points for cities, small mobility operators and commuters simultaneously, helping to make urban transportation safer and cleaner while unlocking significant economic value through Reducing cost and enabling new business models Chris Riley, partner and co-founder of Vektor Partners. “Working closely with cities hereby has become a critical component of creating sustainable micromobility service offerings. We are very excited to be able to support the Drover team on this journey.”
Founded in early 2020, Drover AI has wasted no time in demonstrating its technology and establishing itself as an industry leader, currently operating more than 5,000 PathPilot units on shared scooters across the US, EU and Asia With industry leading operators such as Spin (owned by Tier), Voi, Bolt, Beam, Dott and Helbiz. Drover partners have used PathPilot technology to differentiate their capabilities from traditional GPS and tracking solutions, while cities have also welcomed the improved safety and regulatory compliance enabled by ground-breaking technology. With growing awareness of this technology with many stakeholders, Drover is taking advantage of the opportunity to integrate its technology more deeply with vehicle manufacturers and IoT units for the future iteration of small vehicles.
“The response to our technology and the subsequent demand we saw from the market far exceeds any of our early assumptions,” Alex Nesek, one of the founders of Drover. “Not only our continued interest from scooter operators subscribed via Europe And the AsiaWe are also partnering with manufacturers of all types of precision motion form factors, with an interest in integrating our CV/ML technology to meet our growing passenger and pedestrian safety initiatives,” added Alex.
“With the real fleet deployment of our PathPilot technology, we are also beginning to assess opportunities for the large amount of unique urban data we collect and harvest, including how to better work with cities and other stakeholders to facilitate smart city initiatives,” said Christian Scheder-Peschen. “There has never before been a sustainable and scalable way to measure and leverage this type of urban transport more effectively for the better.”
About Drover AI
Drover specializes in advanced AI-based IoT solutions for last-mile transportation designed to increase fleet performance while bypassing the regulatory requirements of the cities they host. Drover’s product, PathPilot, provides cost-effective discrimination of granular infrastructure even in the absence of often unreliable GPS data allowing unprecedented location awareness and the ability to take corresponding actions. Drover enables a safe and intelligent experience through technology to help ensure the long-term success of micro-mobility as a sustainable and integrated part of urban transport.
About Victor Partners
At Vektor Partners we are investing in the mobility revolution. The world of transportation is going through drastic changes – we partner with our founders who are driving those changes. From LondonPalo Alto and BerlinWe are ideally positioned to invest in a new generation of founders who will transform technology for the mobility sector of the 21st century.
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SOURCE Vektor Partners