Alliance Ventures Invests in Data Ecosystem for Shared Transport Services

PR75704

PARIS, TOKYO, and YOKOHAMA, Japan, October 12, 2018 /PRNewswire=KYODO JBN/ --

Alliance Ventures, the corporate venture capital fund of

Renault-Nissan-Mitsubishi, the world's largest automotive group by unit sales,

today announced that it led a $5 million Series A investment in Coord

[https://coord.co/], the US mobility data platform.

     (Logo:

http://mma.prnewswire.com/media/556610/Renault_Nissan_Mitsubishi_Logo.jpg )

The latest investment by Alliance Ventures is also supported by additional

funding from Trucks, Urban.Us, DB Ventures and Joshua Schachter. They join

Alphabet's Sidewalk Labs, a previous investor in Coord.

"We are pleased to be adding Coord to our investment portfolio," said Francois

Dossa, Alliance Global Vice President, Ventures and Open Innovation. "This

promising and fast-growing business fits exactly with our goal to support

technology start-ups and business entrepreneurs focused on next-generation

mobility services."

Initially focused on reaching developers with their robust suite of APIs, Coord

intends to use this new financing to scale geographic coverage and build a

comprehensive solution to enable enterprise customers to optimize their use of

transportation infrastructure such as roads, curbs and parking lots.

"We're excited to support Coord in their mission to make cities more livable by

enabling seamless mobility for everyone," said Ryan Armbrust, Partner at

Alliance Ventures. "Coord is building a vital digital infrastructure that not

only helps existing transportation modes operate more efficiently, but also

enables rapid experimentation with new modes like scooter-share and autonomous

vehicles."

"We are grateful to have the support of a diverse group of investors who see

the opportunity to transform the mobility market," said Stephen Smyth, CEO of

Coord. "Alliance Ventures and others bring expertise across the transportation

and urban technology sectors that will enable us to accelerate the adoption of

mobility solutions in cities throughout North America."

ABOUT RENAULT-NISSAN-MITSUBISHI

Groupe Renault, Nissan Motor Company and Mitsubishi Motors represent the

world's largest automotive alliance. It is the longest-lasting and most

productive cross-cultural partnership in the auto industry. Together, the

partners sold more than 10.6 million vehicles in nearly 200 countries in 2017.

The member companies are focused on collaboration and maximizing synergies to

boost competitiveness. They have strategic collaborations with other automotive

groups, including Germany's Daimler and China's Dongfeng. This strategic

alliance is the industry leader in zero-emission vehicles and is developing the

latest advanced technologies, with plans to offer autonomous drive,

connectivity features and services on a wide range of affordable vehicles.

http://www.alliance-2022.com

http://www.media.renault.com

http://www.nissan-newsroom.com

http://www.mitsubishi-motors.com/en/newsrelease/

http://www.alliance-2022.com/news/alliance-ventures-invests-in-data-ecosystem-for-shared-transport-services/

Source: Renault-Nissan-Mitsubishi