BERLIN--(BUSINESS WIRE)--innogy Ventures, the venture capital investment arm of innogy Innovation Hub, has invested in Teralytics AG as part of a $17.5 million funding round. innogy Ventures and innogy Innovation Hub are backed by innogy SE, a leading German energy company. The round was led by Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group. Other participants included Deutsche Bahn Digital Ventures, LBBW Venture Capital and Liil Ventures, as well as existing investors Atomico and Lakestar.
Teralytics is the world’s first company to unlock truly inclusive data on people’s journeys. The Swiss software company is building a platform to provide advanced mobility analytics powered by telecom network data. Using data science and proprietary machine learning algorithms, it provides actionable mobility insights to help cities and transport services understand, predict and improve journeys across all modes of transport. At a time of growing urbanisation and environmental awareness, these insights support the world’s shift to electric mobility, helping to optimise charging station locations and transform the electricity grids based on predicted demand.
Zurich-based Teralytics, which also has offices in New York and Singapore, plans to use the new funding to expand its geographic footprint to become a global marketplace for mobility insights and cover the journeys of more than one billion people. It currently provides mobility data products for infrastructure developers, transport planners and shared mobility services across more than 10 countries.
“We are delighted to have attracted such an outstanding syndicate of investors. The group comprises both astute financial investors with impeccable track records, and extraordinary domain-relevant strategic partners - RBVC, Deutsche Bahn and innogy. Our fit with their long-term vision for mobility is particularly exciting,” said Alastair MacLeod, Teralytics’ CEO. “Human mobility is changing beyond recognition. The next ten years will bring a seismic shift in mobility technologies, comparable to the impact that transistor and personal computer advancements had on miniaturisation and digitalisation. We are building a global company which will put us at the epicentre of these transformational changes.”
Thomas W. Thomas, Managing Director innogy Ventures, added: "We are very excited to support Alastair and the Teralytics team on their journey to scale their global platform for mobility insights. We are convinced that this exceptional team, with their strong track record in building the leading analytics technology stack, is well positioned to unlock the data the world needs to improve human mobility, both in terms of delivering a better service at lower cost and with minimised environmental impact. 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."
About Teralytics AG
Teralytics is a technology company that provides unprecedented insights into people’s journeys.
Until now, cities and mobility services have been designed based on assumptions of how public authorities and private companies expect people to move. But, they aren’t taking the journeys of the whole population into consideration. As a result, for many, mobility is limited. Not just physically, but socially and economically. It’s stopping people from reaching their full potential. Ineffective transport services can be the difference between a job not taken and a family life compromised.
Teralytics partners with mobile network operators to solve this problem with the most accurate indicator of people’s movement – their mobile devices. It’s the one thing everyone has with them at all times. And the cell towers receiving their signals don’t discriminate based on device model or apps. Due to its complexity and scale, mobile network data has been nearly impossible to understand or utilize. That’s why Teralytics has pioneered a way to translate it into actionable insights. For the first time, Teralytics has unlocked truly inclusive data on people’s journeys. For more information visit: https://www.teralytics.net/
About innogy Innovation Hub & innogy Ventures
innogy Ventures GmbH is the €130m venture capital investment arm of the innogy Innovation Hub, participating or leading series A and beyond venture capital deals focused on innovative and digital business models in North America, Europe and Israel. Portfolio companies are supported with comprehensive market knowledge, assistance in business development and links to the wider innogy SE’s network in order to support their competitiveness and accelerate their growth.
innogy Innovation Hub believes that new technologies, business models and consumption patterns will redefine the energy market of the future. We believe this future will be driven by four core global trends; decarbonisation, decentralisation, digitisation and democratisation. innogy Innovation Hub’s mission is to drive this vision for the future of energy by being a sector disruptor: by identifying the game-changing technologies, ideas, individuals and businesses that will help build that future, wherever they are, providing funding, mentoring and a platform for co-creation, collaboration and convergence.
The innogy Innovation Hub has created a €162m portfolio (as of December 2018) through investing in disruptive individuals, start-ups and early stage businesses and provided opportunities for nearly 90 start-up and scale-up companies to collaborate. It is headquartered in Berlin, with teams across Europe including in London, Warsaw and Essen, as well as offices in California (Silicon Valley) and Israel (Tel Aviv).
innogy Ventures and the innogy Innovation Hub are funded by innogy SE, a leading German energy company, with revenues of around €37 billion (2018), around 43,000 employees as well as activities in 16 European countries and in new markets such as Australia, Canada and the USA. For more information visit: https://innovationhub.innogy.com and https://www.innogy.ventures/