Fleet optimisation solutions provider Zoba has secured $12 million in Series A funding, supporting its expansion in the US and Europe.
The funding round was led by NTTVC, with participation from existing investor CRV, and sees NTTVC partner Fay Hazaveh Costa join the Zoba board of directors.
Zoba offers AI-based fleet optimization solutions that aim to provide operators with the ability to predict demand and optimize fleet performance, giving them a significant competitive edge.
The firm’s services are currently embedded with multiple industry leaders in more than 150 metro areas across North America, Europe, Asia Pacific, and the Middle East.
“Micromobility services are transforming urban landscapes around the world, but many providers’ fleet management strategies are based on intuition and best guesses,” said Daniel Brennan, who founded Zoba alongside his brother Joseph Brennan.
“Our unique solution uses decision-automation to predict true demand. That means we provide our customers with the insights to understand where demand for a micromobility fleet will be and not where they’ve been. The result is increased ridership, lower operational costs, and higher revenue.”
Spin is an operator currently partnered with Zoba, and CEO Ben Bear said the service helps increase revenue and reduce costs.
“Zoba is truly unique in this market, in that they’ve spent a lot of time thinking about the industry’s problems, then building a new solution from the ground up to address fleet optimization,” he said.
“Instead of relying on historical trends to determine demand, Zoba gives the ability to predict where our customers will need our services beforehand. That truly enables us to increase our revenues while reducing operational costs.”
