Among the companies negotiating with the town of Orlando, Orlandobased Beep Series is one that is looking to develop and deploy autonomous vehicles. The company has raised a round of $50 million from investors including the Baltimore-based ABS Capital and alternative investors including Intel Capital, Blue Lake Capital, TDF Ventures, Hidden Creek Management, and more. The company’s development and high-level partnerships drew the interest of ABS Capital.
Orlando-Based Beep Series Is Looking to Deploy Autonomous Vehicles
The company, which is currently an automatic company, is working with about 80 to 100 people. The organization aims to use as many as 100 people by the end of the year. So far, 25-50 million cash has been raised from investors.
The company specializes in developing, deploying, and operating driverless electric multi-passenger vehicles. They have experience with public road deployments and have successfully completed extensive testing in different cities. By leveraging its data from public road deployments, beep hopes to deliver the next generation of transportation services. The company is working with the National route Traffic Administration to develop new technology and services.
Beep, the Self-Driving Transportation Administrator, Raises $50 Million in Series A Funding
Beep, the self-driving transportation administrator that can be operated by humans, has raised more than $1 million in funding from investors. ABS Capital, a Baltimore-based investment company, is the lead investor, along with several other companies. The firm plans to use the funding to expand its product and programming arrangement. Additionally, Beep has negotiated with the town of Orlando to test autonomous vehicles in the city.
The organization aims to employ 80-100 people by the end of the year. So far, it has raised 25-50 million from investors. Currently, the company is an automatic service, but by the end of this year, it plans to be fully functioning and employing eighty to a hundred people.
A recent $25M Series A extension led by ABS Capital brings the total funding to about $50 million. The next 24 months will be critical for the startup. Beep’s funding comes at a critical point in the company’s development and implementation of its autonomous shuttle system.