Good day,
Bestmile, a transportation software startup, has raised $16.5 million in a Series B round led by Blue Lagoon Capital and TransLink Capital. Existing investors Road Ventures, Partech, Groupe ADP, Airbus Ventures, Serena and others also participated in the round. Based in Lausanne, Switzerland with an office in San Francisco, Bestmile serves a range of mobility operators, including public transit, automakers and taxi companies that offer ride-hailing, microtransit and robotaxis. The platform works by collecting real-time data such as weather, traffic, demand and vehicle telemetry, then crunching the data to provide insights and action items for fleet operators. News of the raise follows an announcement earlier this month of a partnership between Bestmile and Beep, an autonomous shuttle company in Orlando, Fla.
Did you know?
Waymo passengers provided negative feedback for 30 percent of around 6,100 autonomous rides in southern Phoenix during a recent two-month period. That is down from a complaint rate of 40 percent in the Phoenix market during the first quarter of the year.
Quotable
“It’s not fair or right for drivers who dedicate themselves and practically live on the road in their trucks. I am doing my job, driving safe and careful, but I’m not being paid for my time and hard work.”
Driver James Delva, on being stranded in Phoenix, Arizona following HVH Transportation’s abrupt closure on Tuesday, August 27. (FreightWaves)
In other news:
Tesla stock rises on announcement of the automaker’s new insurance division and a positive outlook on the European market.
The electric vehicle maker launched its own insurance program earlier this week, claiming up to 30 percent cheaper rates. (Electrek)
British oil producer BP Plc to sell business in Alaska to Hilcorp Energy Co. for $5.6 billion. The sale ended a six-decade presence in the state as oil production there declines. (TTNew.com)
Google parent Alphabet creates spinoff to modernize urban infrastructure
Sidewalk Infrastructure Partners will target roadways, energy, water and waste, and digital and social infrastructure. (OTPP.com)
Toy stores hit hard by trade war
U.S. retailers are limiting orders from Asia ahead of the holidays. (Bloomberg)
Final thoughts,
Conventional wisdom says an increase in last-mile deliveries as a result of e-commerce growth is leading to a corresponding uptick in carbon emissions. That conclusion, however, merits a closer look. As FreightWaves reported here, the most energy-intensive last-mile movement is actually when people take their cars out to shop at a nearby supermarket. Inefficiencies associated with individual shopping trips are to blame.
Hammer down everyone!