Beep Raises Additional $25M in Series A-1 Funding
Beepa Lake Nona, Florida-based multi-passenger electric and autonomous mobility solutions provider raised $25m in Series A-1 funding.
The round was led by ABS Capital, with participation from Intel Capital, Blue Lagoon Capital, TDF Ventures and Hidden Creek Management. Following ABS Capital’s investment, Jennifer Krusius will serve on Beep’s board of directors. ABS Chairman and Partner Phil Clough will also join the Beep Board as an observer.
The company intends to use the funds to further develop its autonomous software platform while advancing its flagship mass transit autonomous mobility service focused on first- and last-mile transportation networks.
Led by CEO Joe Moye, Beep provides mobility services using driverless, electric and multi-passenger vehicles. Specializing in the planning, deployment and management of advanced autonomous shuttles for private and public communities, the company securely connects people, places and services in first- and last-mile mobility networks. Beep also leverages data and learnings from its public road deployments to produce industry-leading vehicle-independent solutions to improve platform safety, access, artificial intelligence and driverless capabilities. autonomous.
Over the past two years, the company’s approach has seen them deploy and test more than 20 public highway routes across multiple states.
In addition to partnerships with communities such as Lake Nona in Orlando, Florida, Tradition in Port St. Lucie, Florida and the City of Peachtree Corners, Georgia, Beep works with many municipalities and transportation authorities to improve access to main corridors in underserved areas. and urban areas. Most recently, Beep and the Vision 2 Reality (V2R) team won the nation’s largest public sector autonomous shuttle project with the Jacksonville Transportation Authority’s Ultimate Urban Circulator project. The first phase of the project will establish a fleet of self-driving shuttles in downtown Jacksonville.