Fleet optimization startup, Autofleet raises $7.5 million

Autofleet, an Israel-based AI-powered fleet optimization and vehicle-as-a-service solutions provider has raised $7.5 million in Series A and seed financing for AI fleet management tools. The newly raised fund has been led by MizMaa Ventures with the participation of mobility-focused investors Maniv Mobility, Liil Ventures, and Next Gear Ventures. Maniv Mobility has led the seed financing.

According to the Autofleet, it aims to use the latest fund to accelerate its work to create new opportunities for utilizing vehicle fleets, help grow its research and development team, and accelerate expansion into more international markets.

Autofleet claims that most of the rental car companies, car sharing operators and automakers use Autofleet-developed fleet management platform in order to launch or better manage mobility services. This fleet management platform contains a booking app and integrations to delivery services, demand prediction, pooling and optimization algorithms along with a driver app, and a control center. Autofleet has already partnered with global fleets and manufacturing giants including Avis Budget Group, Zipcar,  Keolis and Suzuki as its customers.

Kobi Eisenberg, the CEO of Autofleet states, “We’re hearing from fleet partners around the globe who are experiencing dramatic drops in demand, and therefore significant portions of their fleet and drivers are un-utilized. At the same time, we have seen a sharp increase in demand for delivery services from businesses across all verticals: retail and supermarkets, restaurants.” He adds, “Autofleet’s mission is to provide fleet owners the tools needed to realize the full potential of asset-heavy fleets in their transition to becoming the mobility service providers of the future. We couldn’t be more excited to partner with investors that share that vision and offer unique focus and expertise in the mobility industry to accelerate our mission globally.