Beep secures $20 million Series-A investment from Intel and Blue Lagoon
Summary
The funding will enable Beep to continue the expansion of its autonomous fleet deployments across North America and leverage its learnings to advance passenger mobility service for cities, business districts and campuses at scale. Beep utilizes a combination of machine learning, contextual traffic data and the company’s existing centralized command center data to provide vital oversight in managing high-risk scenarios for autonomous vehicles in complex geo-fenced environments. “They are doing the necessary work of putting concept into action, and they have the technology capabilities to chart new territory.” Kevin Reid, general partner, Blue Lagoon Capital, says: “Beep’s long-term strategy to create new autonomous mobility technologies, coupled with its team’s strength in advanced platform engineering and software design, gives them a unique advantage when it comes to advancing mobility in various use cases. “Our mission is to improve safety on the roads for everyone while positively impacting the environment and delivering mobility-for-all in our public and private communities. “This latest round of funding will help us meet our goal of advancing the use of driverless platforms meant to enhance the quality of life in many areas of society.” In addition to established partnerships with communities such as Lake Nona in Orlando, Florida and Tradition in Port St Lucie, Florida, Beep is working with many municipalities and transit authorities to enhance access to main corridors in underserved and urban areas.
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