DENSO Invests In Mobility-As-A-Service Company Ridecell

DENSO Invests In Mobility-As-A-Service Company Ridecell

To date, DENSO has now provided funding to startups focusing on four core areas: autonomous driving, connected vehicles, cybersecurity and mobility and IoT.

DENSO has announced it will invest in Ridecell, the leading platform for carsharing and ridesharing operators, as a significant contributor to the company’s recent Series B funding round.

Ridecell technology provides an easy platform for automakers, auto dealerships and other new mobility providers to launch and operate mobility solutions, such as carsharing or ridesharing programs. To date, DENSO has now provided funding to startups focusing on four core areas: autonomous driving, connected vehicles, cybersecurity, and mobility and IoT.

“The transportation and automotive startup community has transformed over the past few years, and mobility is at the core,” said Tony Cannestra, director of corporate ventures at DENSO. “Established industry leaders and startups need to work together to craft products and solutions ushering in the future of transportation. DENSO believes that Ridecell provides a foundational technology for the future of mobility.”

Ridecell integrates technology to automate the end-to-end process of car-sharing or ride-sharing programs, from registration to scheduling and payment. DENSO’s investment will help mature the company’s offerings, the company says.

“Ridecell and DENSO share a vision of safer, more efficient and sustainable mobility solutions,” said Aarjav Trivedi, CEO of Ridecell. “Through our corporation with DENSO, we’ll continue to develop a platform making it easier for cities, campuses and mobility providers to build and scale carsharing and ride-sharing programs.”

The company says the investment represents the latest milestone fulfilling DENSO’s goal to bring innovative solutions to market that benefit the automotive industry and consumers. DENSO opened a Silicon Valley office in 2011, and in 2014 created a dedicated team to pursue investment opportunities with entrepreneurs and startup companies. DENSO also lends expertise and monetary support at three technology incubators – Lemnos Labs, Prospect Silicon Valley and NextEnergy.

The company continues to evaluate new solutions and investment opportunities in Silicon Valley, Detroit and beyond as part of its innovation efforts.

You May Also Like

ZF Aftermarket Releases 36 New Parts for US, Canada

ZF has introduced a total of 185 new products in 2024 under the ZF, LEMFÖRDER, SACHS, TRW and WABCO brands.

ZF Aftermarket announced it launched 36 new part numbers for a variety of braking, suspension and transmission components for passenger cars in the United States and Canda (USC) aftermarket. This includes 10 new part numbers for SACHS Continuous Damping Control (CDC) shock absorbers, bringing the total number launched this year to 60.

Dana Expands Spicer ReadyShaft Assembly Coverage

The addition of more than 3,000 new part numbers brings Dana’s ReadyShaft program
to over 13,000 active SKUs.

Dana-Expands-Spicer-ReadyShaft-Assembly-Coverage
Litens Aftermarket North America Elevates Sustainability Efforts

Litens said it is dedicated to achieving carbon neutrality by 2030. 

Litens Aftermarket North America Elevates Sustainability Efforts
HELLA Introduces HELLA BLADE LED 6” Series Auxiliary Lights

The HELLA BLADE Series combines powerful illumination with innovative features for the ultimate driving experience, the company said.

HELLA-BLADE-LED-6-Series-Auxiliary-Lights
Transtar Announces Agreement for Axalta to Acquire The CoverFlexx Group

Axalta Coating Systems has signed a definitive agreement to acquire Transtar Holding Company’s subsidiary The CoverFlexx Group.

Transtar-logo-on-white

Other Posts

Bendix: Air Disc Brake Production has Doubled Since 2018

Commercial ADB adoption rates in Class 6-8 vehicles are now up over 50%, according to Bendix.

Bendix Bowling Green
MPA: ‘We’re as Strong as Ever’

Chairman, President and CEO Selwyn Joffe discusses what he’d like the aftermarket to know about Motorcar Parts of America.

MPAs-Selwyn-Joffe-Were-as-Strong-as-Ever
Dayton Parts Offers New Aftermarket Products

A new DPF differential pressure sensor, engine oil dipsticks and fuel injector wiring harnesses designed to match OEM spec.

Dayton-parts-releases-2-sensor-dipstick-harnesses-1400
Hunter Engineering Releases Alignment Coverage for Hundreds of Vehicles

The release covers brand-new records – those not yet in existence at the time of the previous release – as well as updates to existing records, covering OEM changes to existing vehicles, the company said.

Hunter Engineering Releases Alignment Coverage for Hundreds of Vehicles