Apio Systems Receives Series A Funding, Led by Verizon Ventures
Company to develop and market Situational Awareness™ for drivers
CRYSTAL CITY, Va., Nov. 13, 2014 /PRNewswire/ -- Apio Systems today announced that it has completed a $5 million Series A round of financing led by Verizon Ventures, the investment arm of Verizon Communications. Additional investors include, Lerer Hippeau, Transdev and East Rock Capital. To date Apio Systems has raised more than $6 million.
"We believe Apio Systems is well positioned to lead in mobile transportation safety, through its ability to provide a platform, delivered as a service via the cloud, that uses the driver's own smart device," said Dan Keoppel, Executive Director at Verizon Ventures. "The Apio team has the advanced technology expertise in mobile and transportation, and the vision to create a powerful and accessible mobile safety platform, disruptive to the current industry."
Apio Systems is pioneering a new way to improve driving safety through a purpose-built mobile platform. The patent-pending proprietary technology harnesses powerful sensors in smart devices to sense and identify a broad range of road and driving conditions, augmented by other data, to deliver real-time, highly relevant alerts that safeguard the driver.
"Our purpose-built platform is highly accessible, inexpensive, autonomous, and non-distracting," said Sascha Simon, founder and CEO of Apio Systems. "We are dedicated to providing Situational Awareness™ to drivers, and the industries that serve them, who will benefit by increased safety and efficiency."
Formerly Simon led the Advanced Product Planning group at Mercedes–Benz™ USA where he architected and launched numerous industry firsts including mbrace, the advanced telematics system embedded in passenger cars, and the first small series production Hydrogen Fuel Cell vehicle in the United States.
"Transdev is both a customer and investor of Apio Systems. We are now installing this technology in some of our fleets to continue to ensure that our drivers are the safest in the business," said Mark Joseph, CEO of Transdev USA.
Real-time alerts help drivers become highly aware of their driving environment, avoid problems, improve safety, and enhance driving efficiency. The mobile solution utilizes the smartphone already in most drivers' pockets, without any additional expensive equipment or direct connection to the car.
About Apio Systems:
Apio Systems provides vehicular drivers with Situational Awareness™ through its purpose-built mobile transportation safety platform that utilizes proprietary machine intelligence and patented algorithms. Apio's patented technology harnesses powerful sensors in smart devices to sense and identify a broad range of road and driving conditions, augmented by other data, to deliver just-in-time, highly relevant alerts that safeguard the driver and enhance driving efficiency. Apio Systems has offices in Crystal City, Virginia and Warwick, New York. For more information visit www.apiosystems.com.
About Verizon Ventures:
Verizon Ventures LLC seeks and invests in promising entrepreneurial companies that are tackling some of today's biggest challenges for Verizon's consumer and enterprise customers. Over the last decade Verizon Ventures has invested in more than forty companies covering a range of industries, technologies and market segments. Verizon Ventures offers support to its portfolio companies with technology and product development, market planning and sales, and access to the networks and platforms of Verizon Communications. For more information visit www.verizonventures.com.
SOURCE Apio Systems
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