Deals

Optimus Ride Raises $18 Million In Series A Funding
Date: 
Thursday, November 2, 2017
Location: 
Boston
Categories: 
Hardware & Robotics
Deal Type: 
Funding

Today, Optimus Ride, a MIT spinoff company developing self-driving technology, announced it has closed an $18 million Series A funding led by Greycroft Partners with participation from Emerson Collective, Fraser McCombs Capital and renowned venture capitalist and current director of MIT Media Lab, Joi Ito. Optimus Ride has raised a total of $23.25 million through two rounds of financing. The company will immediately use the capital to scale its current vehicle fleet and make strategic hires as well as continue its efforts to educate the market of the potential of fully autonomous driving technology.

A recent study from Boston Consulting Group and the World Economic Forum, “Making Autonomous Vehicles a Reality: Lessons from Boston and Beyond,” predicts that driverless cars could reduce air pollution, significantly lessen notorious city traffic and free up much needed additional parking space. With ties to MIT and a founding team with a collective three decades of experience in robotics, on-demand transportation and electric vehicles, Optimus Ride is uniquely positioned to help usher in the next era of transportation in the City of Boston and beyond... READ MORE