13 December 2019:
Autonomous driving startup Bluespace.ai has raised $3.5 million in Seed Funding. The funding round was led by Palo Alto based Fusion Fund.
Steve Chen (YouTube Co-founder), UMC, Kakao Ventures, GDP Ventures, Atinum, Wasabi Ventures, Blue Ivy Ventures, Plug n Play and SLV Capital also participated in the funding round.
Joel Pazhayampallil, Co-founder and CEO of Bluespace.ai, said, “BlueSpace offers verifiably safe AV technology that will power the future of urban transit. We’ve seen the AV industry grow rapidly in the past several years, but proving safety and sustainable business models are yet to materialize. BlueSpace brings superior technology to the right mobility application through automated transit solutions. Our mission is to provide accessible, sustainable, and equitable urban mobility enabled by our AV software.”
Lu Zhang, Managing Partner, Fusion Fund, said, “After looking at many investment opportunities in the AV space, we found that BlueSpace stood out with their revolutionary technology approach and providing near term market application. The founding team has an incredibly strong technology background and significant deployment experience having launched AV services in Florida, Texas and California.”
Christine Moon, Co-Founder & President of Bluespace.ai, said, “We have interest from various cities around the world, big and small, and transit providers who are looking for a solution to their declining driver workforce and want a more accessible, affordable, and safer AV service to meet their mass transit needs.”
Bluespace.ai plans to bring the benefits of autonomous driving to all of society through mass transit. The team believes this is the more viable path towards full autonomy while providing greater social impact through reduced congestion, pollution, and greater access to equitable mobility.
(Image – BlueSpace.ai)