Intelligent mobility software provider Immense Simulations has announced that it has secured $4.6m in Series A funding.
The investment will aid the continued growth and development of the company’s AI-driven ‘Simulation as a Service’ platform, which is disrupting traditional transportation modelling.
The Series A funding was co-led by global technology investor, Amadeus Capital Partners and Global Brain Corporation. A further investment was made by 31 Ventures, part of the Mitsui Fudosan Group.
Robin North, Immense Co-Founder and CEO, said, ‘Mobility is changing fast but transport decision-making is slow and expensive, based on poor data.’
‘Cities need to accommodate growth, improve resilience and serve an ageing population while improving accessibility, air quality and energy consumption. Operators are facing increasingly low margins and both market and technology disruption, and consumers are expecting an ever more seamless service.’
‘Immense is challenging these outdated methods through our cutting-edge, cloud-hosted simulation platform. With the backing of investors such as Amadeus with expertise in the mobility software sector, and the international perspective of Global Brain, we can capture the growing market for intelligent transport solutions,’ concluded North.