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20 April 2017

BestMile races to $5.5m finish

The fleet automation spinout from Swiss Federal Institute of Technology in Lausanne has attracted a $2m extension for its seed round.

Author: Chris Winters, reporter

BestMile, a fleet automation technology developer spun out of Swiss Federal Institute of Technology in Lausanne, has raised an additional $2m in seed funding, bringing the round’s total to $5.5m.

The extension was provided by Airbus Ventures, the corporate venturing arm of aerospace company Airbus, as well as VC firms Partech Ventures and Serena Capital.

The company secured an initial $3.5m tranche in July 2016 from investment firm Forticap, VC firm Perot Jain and assorted angel investors.

Founded in 2014, BestMile has developed a cloud platform for managing fleets of autonomous vehicles. The extension will help accelerate the international deployment of the platform and will also boost technology, sales and marketing resources in Europe and the US.

Reza Malekzadeh and Jean-Baptiste Dumont, general partners at Partech and Serena respectively, will join BestMile’s board of directors.

Raphael Gindrat, chief executive and co-founder of BestMile, said: “We are thrilled to have new partners, who share our vision, joining us in the journey and contributing their unique experiences to our mission.

“The additional funding will help us further our goal of delivering the best mobility management platform to a fast-growing industry.”

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