Beep is one of the best companies that provides multi-passenger electric autonomous mobility services, which means it provides an autonomous electric transportation service. The company announced that it had raised $25 million to improve its self-driven shuttle and provide more comfortable and valuable transportation services.
The funding round was led by ABS Capital, an American-based equity firm that encourages investment in software and tech-based businesses. Apart from this, it includes active participation from various other investors, namely Intel Capital, a global investment merger and acquisition company; Blue Lagoon Capital, an investing and funding-based technology company; TDF Ventures, a Washington-based marketing and investing company; and Hidden Creek Management, a company based on real estate management and investment.
Beep is an enhanced and technology-based self-driving transportation company that was founded in 2019 by CEO and co-founder, Kristoffer Jacek, and Joe Moye. The company was founded to develop digital marketing services and provide high-quality self-driving transportation services to its valuable customers.
Apart from this, the main target or mission that the company wants to achieve through its efficient work is to power mobile payments and data-driven optimization in an unreserved and emerging physical market.
Beep’s CEO, Joe Moye, stated that we are excited to welcome our new value investors, ABS Capital and TDF Venture, into our business. Also, we are thankful to our valuable and retained investment partners, Intel Capital and Blue Lagoon Capital, for supporting funding for our new and upcoming projects.
He added a few words by saying that, at present, our mission is to improve safety on roads for the driver as well as the passengers and pedestrians passing through roads. We want to develop a positive and safe transportation system for all.
In his other statement, he stated that the investment raised by the company will be used to develop the solution required to achieve greater safety and security in the transportation system. This funding will enable us to find new ways of providing safety to all while traveling.
The company has successfully led two funding rounds and earned a total of $45 million by way of investment. Previously, it had raised $20 million in its series A investment and welcomed Intel Capital and Blue Lagoon Capital as its new value investors. However, the estimated valuation of the company has not been made yet, and the company is trying hard to make its total valuation in billions.
The company was formed with the view of providing transportation services to its customers, but now, as with time, it is developing more and more, it is adding new aims to fulfill. Along with this, the company is focusing on raising its value and adding new value investors.
Shortly, beep will increase the value of the company by adding more efficient and hardworking investors to its company. At present, it has raised $25 million investment but in its next round, it will build its worth to raise an amount that is more than double of this amount. Moreover, the investors, founders, and working employees will deliver more utility services to its customers.