Bosch invests $2 million in Routematic

Urban mobility startup Routematic raised $2 million in its latest round of funding from BOSCH at a valuation of $28 million. Routematic plans to use the funding to expand the company's portfolio of mobility use cases and geographic presence.

Commenting on the investment, Surajit Das, CEO Routematic said, “ We are tremendously proud of what we have accomplished so far. It is our privilege to bring BOSCH on board as an investor and a strategic partner as we continue innovating and solving for mobility. Routematic will play a central role in determining how big cities handle problems like traffic congestion and environmental issues. This partnership will enable us to build mobility products that are safe, efficient and sustainable.”

He further adds, “At a time when mobility at large is struggling to make a comeback in the post lockdown world, this investment is testament to the fact that we are headed in the right direction. It is a good validation of our hypothesis that urban mobility should be solved using multi-form supply designed around demand from office commuters and then building out for other use cases. The Routematic-BOSCH partnership will generate a lot of synergies and accelerate mobility innovations.”

Routematic recently expanded its mobility portfolio with the launch of large-format shuttle/bus-based transport for the workforce in manufacturing units, augmented with a suite of COVID protection and shopfloor solutions such as contact tracing, and social distancing tools.

Original Source: https://www.moneycontrol.com/news/business/bosch-invests-2-million-in-routematic-6091141.html