After Berlin-based shared micro-mobility provider TIER Mobility acquired Ford-owned shared electric bike and scooter operator Spin to enter the U.S., it has now acquired another tech firm Fantasmo. This is the fourth acquisition TIER has made in recent months.
The SoftBank-backed German startup had earlier acquired Italian market leader Wind Mobility and Europe’s largest bikeshare player nextbike in 2021. In October 2021, it raised a massive $200 million Series D funding round. It has raised a total of $660 million in equity and debt until now.
The US-based Fantasmo offers Camera Positioning System (CPS), a new positioning technology that is ten times more accurate than GPS and can validate e-scooter parking within 20 cm or less. Thus, the new buy marks the beginning of a new phase for TIER. It will now introduce computer vision-powered e-scooter parking as part of a commitment to invest in tackling irresponsible parking, sidewalk riding and tandem riding to create a safer environment for all road users.
Matthias Laug, CTO and co-founder, TIER Mobility said: “The new acquisition is another example of our continuous investment in innovative features and technologies that make e-scooters more compliant and safer for all road users. From the very beginning, we’ve been hugely impressed by Fantasmo’s CPS, which allows us to directly address the concerns of vulnerable road users when it comes to how e-scooters are parked. Our plan is to expand the positioning technology to numerous cities in Europe and the Middle East in near future and at the same time invest in the upcoming computer vision-powered rider assistance system.”
The company has already rolled out Fantasmo's CPS first in Paris and in other locations across TIER’s network of 185+ cities throughout Europe and the Middle East, including London, York, Dusseldorf and Leipzig.
Jameson Detweiler, president and co-founder, Fantasmo, added: “We have been working with TIER closely for over a year, and have experienced first-hand their commitment to being the best micro-mobility platform for cities, citizens and riders. We are excited to continue on this journey together as we continue to expand our CPS-powered parking validation technology and into the future by bringing that technology and advanced rider assistance systems directly onto vehicles.”