Click for more.
BMW i Ventures is investing in Zūm, a provider of transportation for school districts and working families. The amount invested was unspecified. However, it is part of $40 million in so-called Series C funding from new global investors BMW i Ventures (lead), NGP Capital, Volvo Cars Tech Fund, Draper Nexus, and Clearvision along with existing investors Spark Capital and Sequoia Capital.
Dr. Ulrich Quay of BMW i Ventures becomes a “board observer.” The 4-year old company claims it wants to become the world’s safest and largest child transportation provider.
BMW i Ventures is the venture capital arm of BMW Group. It invests money and resources in startups in the fields of autonomous driving, digital car and automotive cloud, e-mobility, artificial Intelligence and data, industry 4.0, shared and on-demand mobility, customer digital life, and energy services.
The new funding will be used to expand Zūm’s business model and increase school partnerships throughout the country as the company works to double its footprint by the 2019-2020 school year. Funding will also support the advancement of Zūm’s proprietary technology, such as its GPS vehicle tracking and real-time system dashboards for school districts to have visibility into a child’s commute for enhanced safety and efficiency.
Zūm added more than 100 new school districts in 2018, and now operates in 400 cities, transporting children to more than 2,000 public, private and charter schools, with a collective 750,000 students in attendance. Zūm currently services schools in the San Francisco Bay Area, all of Los Angeles, Orange County, and San Diego. Dallas and Chicago are launching soon, with more expansion promised.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
BMW i Ventures Announces Investment in Zūm
Click for more.
BMW i Ventures is investing in Zūm, a provider of transportation for school districts and working families. The amount invested was unspecified. However, it is part of $40 million in so-called Series C funding from new global investors BMW i Ventures (lead), NGP Capital, Volvo Cars Tech Fund, Draper Nexus, and Clearvision along with existing investors Spark Capital and Sequoia Capital.
Dr. Ulrich Quay of BMW i Ventures becomes a “board observer.” The 4-year old company claims it wants to become the world’s safest and largest child transportation provider.
BMW i Ventures is the venture capital arm of BMW Group. It invests money and resources in startups in the fields of autonomous driving, digital car and automotive cloud, e-mobility, artificial Intelligence and data, industry 4.0, shared and on-demand mobility, customer digital life, and energy services.
The new funding will be used to expand Zūm’s business model and increase school partnerships throughout the country as the company works to double its footprint by the 2019-2020 school year. Funding will also support the advancement of Zūm’s proprietary technology, such as its GPS vehicle tracking and real-time system dashboards for school districts to have visibility into a child’s commute for enhanced safety and efficiency.
Zūm added more than 100 new school districts in 2018, and now operates in 400 cities, transporting children to more than 2,000 public, private and charter schools, with a collective 750,000 students in attendance. Zūm currently services schools in the San Francisco Bay Area, all of Los Angeles, Orange County, and San Diego. Dallas and Chicago are launching soon, with more expansion promised.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.