Zurich - Teralytics has secured 17.5 million US dollars in a financing round. The company from the Greater Zurich Area can gain insights into human mobility from mobile network data and help transport operators to plan new services better.
As stated in a press release, Teralytics has raised 17.5 million US dollars in a round led by Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, alongside Deutsche Bahn Digital Ventures, innogy Ventures, LBBW Venture Capital and Liil Ventures.
Teralytics is developing mobility insights solutions powered by telecom network data. The company therefore works with mobile network operators and translates complex data into useful insights on human mobility. According to Teralytics, mobile devices are a very accurate indicator of people’s movement. It’s the one thing everyone has with them at all times.
Teralytics offers its solution to transport operators to help them plan new services better. The data are more precise than the assumptions of public authorities. The solution will also help cities to benefit more from new modes of transportation such as ride-sharing, bike-sharing and e-scooters. According to the press release, Teralytics’s products are already used in ten countries. Teralytics now plans to expand its reach further to cover over a billion travel and transport routes and become a global marketplace for mobility insights.
“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 miniaturization and digitalization”, explains Alastair MacLeod, CEO of Teralytics. “We are building a global company which will put us at the epicenter of these transformational changes.”