With bus travel and public transport expected to experience strong growth across Europe in the coming years, artificial intelligence for bus support and passenger services is becoming an absolute necessity. Here is the Munich-based mobility startup AWAKE Mobility startup raised €4 million in funding to develop AI-driven software to monitor the condition of bus fleets.

The lead round was B&C Innovation Investments (BCII), which is part of Austria B&C Groupfeaturing High-tech Gründerfonds (HTGF), SEK Ventures (the investment firm of the founders of Flixbus), Joachim Drees (former CEO of MAN Truck & Bus), Carl-Peter Forster (former President/CEO of General Motors Europe, former CEO of Tata Motors, former Member of the Management Board of BMW) and Synapse Partners from Silicon Valley.

The new funding will be used to launch new services for customers over the next few months.

Founded in 2020, the German platform developed a hardware and software solution to facilitate the process of using real-time vehicle data to make bus services more reliable. The technology remotely monitors the status of the buses to know when it’s time for a trip to the service station. Insights into vehicle condition can be incorporated into recommendations for mechanics that can help reduce vehicle downtime, repair costs, fuel consumption and emissions.

Live monitoring also ensures that buses are more punctual, increasing customer satisfaction.

Daniel Teositz, co-founder and CEO of AWAKE Mobility said: “This capital increase supports the further technical development of our hardware and software platform and will thus help us launch new services for our customers. We are also looking to rapidly accelerate the expansion of our company.”

B&C Managing Director Thomas Zimpfer added: “For bus fleets and local public transport, we strongly believe that reliability, cost-effectiveness and environmental friendliness are extremely important factors for Europe, both economically and structurally. Through our investment, we aim to accelerate the digitization of the bus industry and local public transport services – a process that has only just begun.”

AWAKE Mobility’s customer base now includes bus companies and fleets in three European countries, including Autobus Oberbayern and VAG Nürnberg.

https://tech.eu/2022/09/14/munichs-awake-mobility-drives-away-with-eur4-million-for-real-time-bus-monitoring

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