Vektor Partners Finances Drover AI's Series A Round to Scale Computer Vision Applications in Micromobility

Drover AI raises funds to support the company's innovative solutions for computer vision and artificial intelligence in micromobility.

FREMONT, CA: "We are very fortunate to have secured the support of Vektor Partners on our mission to leverage computer vision and artificial intelligence for the benefit and long term success of micromobility," said Christian Scheder-Bieschin, co-founder and CEO of Drover AI. "The team at Vektor contributes genuine strategic knowledge of the mobility space as well as an understanding of the huge potential value that exists in harvesting vision-based data from fleets of micromobility vehicles."

With the completion of its Series A funding round, Drover AI reveals that it has raised $5.4 Million in Series A funding, led by Vektor Partners, with further participation from Seed investors Avesta Fund, Masik Enterprises, and Kurt Jaggers. In a move to support the scale-up of the company's innovative solutions for computer vision and artificial intelligence in micromobility, they join existing investor 500 Global.

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Drover AI implemented computer vision and machine learning on an embedded device for the first time in its PathPilot product. Its ability to detect sidewalks, streets and bike lanes on the move enables enhanced safety and regulatory compliance. Other technologies cannot even provide it accurately and can verify parking at the end of every ride. As edge-based and mobile assets enable CV/ML, cities and operators can create unique insights using vision-based data collected by mobile assets and enjoy unrivalled real-time contextual location awareness.

"Micromobility is a big market, and it will continue to grow rapidly throughout this decade. Drover's technology solves various pain points for cities, micromobility operators, and riders simultaneously, helping make urban transportation safer and cleaner while at the same time unlocking significant economic value by reducing cost and enabling new business models," said Chris Riley, Partner and Co-Founder at Vektor Partners. "Working closely together with cities has hereby become a crucial element in establishing sustainable micromobility service offerings. We are very excited to be able to support the Drover team on this journey."

"The response to our technology and the subsequent demand we have seen from the market far surpasses any of our own early assumptions," shared Alex Nesic, co-founder of Drover. "Not only do we have continued interest from shared scooter operators across Europe and Asia, we are also involved with manufacturers of all types of micromobility form factors, with interest to incorporate our proprietary CV/ML technology to meet growing rider and pedestrian safety initiatives," added Alex.

"With real fleet deployment of our PathPilot technology, we are also beginning to assess the opportunities for the significant amount of unique urban data that we capture and harvest, including how to best work with cities and other stakeholders to facilitate smart city initiatives," noted Christian Scheder-Bieschin. "Never before has there been such a scalable and sustainable way to measure and more effectively leverage this form of urban transportation for the better good."

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