EasyMile, a French developer of driverless vehicle solutions for material handling and shared passenger transport, has closed a €55m (£48m) Series B funding round.
Led by private investment firm Searchlight Capital Partners, with McWin and NextStage AM, the round saw all earlier investors, including Alstom, Bpifrance and Continental, also participate.
According to EasyMile, the funding will facilitate the completion of its product and technology roadmap while accelerating the company’s international expansion and client service.
It also signals the growth phase in the software provider’s development plan and will enable the company to scale its solutions commercially.
Gilbert Gagnaire, CEO and founder of EasyMile, said: “We have stayed focused on what we can deliver in a reasonable timeframe and partnered with leaders in niche markets that are addressable now.
“The company will focus on automated solutions for material handling and shared passenger transport on private sites in the short to medium-term, while continuing to address public transport on open roads for the longer term.”
Over the past seven years, EasyMile has established partnerships with OEMs and suppliers in goods transportation, such as TLD for the TractEasy autonomous tractor, which is now available for commercial service.
With a 60% global market share, EasyMile has deployed more than 180 vehicles deployed worldwide. It recently announced a collaboration on an autonomous mobility service experiment with Stellantis (Peugeot-Chrysler-Fiat) within the framework of France’s SAM Project.