Rally to use funding for expansion
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.
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,” said 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.