Alliance Ventures, the corporate venture capital fund of
Renault-Nissan-Mitsubishi, the world’s largest automotive group by unit sales,
today announced that it led a $5 million Series A investment in Coord, the US
mobility data platform.
The latest investment by Alliance Ventures is also supported
by additional funding from Trucks, Urban.Us, DB Ventures and Joshua Schachter.
They join Alphabet’s Sidewalk Labs, a previous investor in Coord.“We are pleased to be adding Coord to our
investment portfolio,” said Francois Dossa, Alliance Global Vice President,
Ventures and Open Innovation. “This promising and fast-growing business fits
exactly with our goal to support technology start-ups and business
entrepreneurs focused on next-generation mobility services.”
Initially focused on reaching developers with their robust
suite of APIs (Application Programming Interface), Coord intend to use this new
financing to scale geographic coverage and build a comprehensive solution to
enable enterprise customers to optimize their use of transportation
infrastructure such as roads, curbs and parking lots.“We’re excited to support Coord in their
mission to make cities more livable by enabling seamless mobility for
everyone,” said Ryan Armbrust, Partner at Alliance Ventures. “Coord is building
vital digital infrastructure that not only helps existing transportation modes
operate more efficiently, but also enables rapid experimentation with new modes
like scooter-share and autonomous vehicles.”“We are grateful to have the support of a diverse group of investors who
see the opportunity to transform the mobility market,” said Stephen Smyth, CEO
of Coord. “Alliance Ventures and others bring expertise across the
transportation and urban technology sectors that will enable us to accelerate
the adoption of mobility solutions in cities throughout North America.”
