NEW YORK, Nov. 20, 2018 /PRNewswire/ -- Rally, creators of the bus rideshare, broke world records when they transported nearly 50,000 people to the Women's March on Washington. Their technology provides shared mass mobility on-demand.
Now, NYC-born Rally, the platform unlocking the underutilized potential of the global private bus industry, has announced that Daimler is leading a $5M Series Seed investment.
Celebrities World Champion F1 driver Nico Rosberg and NHL player Kevin Westgarth are also participating in the financing round. They are joined by several bus operators and Excel Sports Management. They follow pre-seed investments from Yale Innovation Fund, Techstars, NYC-based Studio VC and others.
"Project Schwungrad" (Flywheel)
Calling the effort Project Schwungrad, Rally's partnership with Daimler entails hardware and software development for the on-demand bus market. With almost 4,000 bus operators in the United States alone, the industry is looking to Rally to create new demand for their fleets.
"Having mobilized hundreds of thousands of riders, we're excited about the future of the rideshare," stated Numaan Akram, CEO and cofounder of Rally. "Daimler shares our vision to solve for the challenges of increased urbanization and congestion with mass mobility," added Siheun Song, President and cofounder of Rally.
Alexander Pöschl, Head of Strategy, Innovation Lab & E-Mobility of Daimler Buses, joins Rally's Board of Directors.
Individuals get together on Rally's platform to create on-demand bus trips to sporting events, concerts, festivals and more. Event-goers book rides at rally.co or the mobile app by finding their closest "Rally Point" (bus stop), or by requesting a new one. Rally's algorithms dynamically connect people along a route to create an efficient bus trip, all automated with artificial intelligence. Rally has received reservations in over 3,500 cities across North America and recently became the Official Bus Rideshare partner of 7 NASCAR tracks and an NFL team. Rally's new tagline is "let's get there together."
About Daimler Buses
Daimler Buses is, with the bus brands Mercedes-Benz, Setra, and BharatBenz, part of the Daimler Group. Through these brands Daimler Buses address all the use-cases for customers in the various segments. They also develop holistic mobility solutions in response to the process of digitization and the fundamental transformation of mobility.
Peter Bray, CMO