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PressClub USA · Article.
BMW i Ventures Announces Investment in Zūm.
Thu Feb 28 14:00:00 CET 2019 Press Release
Mountain View, CA, (February 28, 2019)… BMW i Ventures announced today an investment in Zūm, the leading provider of safe and reliable student transportation for school districts and working families. The company, which celebrates its fourth birthday this month, aims to become the world’s safest and largest child transportation provider.
Mountain View, CA, (February 28, 2019)… BMW i Ventures announced today an investment in Zūm, the leading provider of safe and reliable student transportation for school districts and working families. The company, which celebrates its fourth birthday this month, aims to become the world’s safest and largest child transportation provider.
“Zūm has proven itself as a force to be reckoned with in a market that has a lot of untapped opportunity,” said Ulrich Quay, managing partner, BMW i Ventures. “Its leadership is strong not only because of their drive to help working families, but because they themselves have families and understand the need for better child transportation, today. We’re proud to be supporting Zūm and look forward to seeing its momentum as it continues driving funds back into schools.”
The new funding will be used to expand Zūm’s business model and increase school partnerships throughout the country as the company works to double its footprint by the 2019-2020 school year. Funding will also support the advancement of Zūm’s proprietary technology, such as its state-of-the-art GPS vehicle tracking and real-time system dashboards for school districts to have full visibility into a child’s commute for enhanced safety and efficiency.
Zūm added more than 100 new school districts in 2018, and now operates in 400 cities, transporting children to more than 2,000 public, private and charter schools, with a collective 750,000 students in attendance.
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About BMW i Ventures
BMW i Ventures, BMW’s EUR 500 Mio million venture capital fund,
invests money and resources in startups in the fields of autonomous
driving, digital car and automotive cloud, e-mobility, artificial
Intelligence and data, industry 4.0, shared and on-demand mobility,
customer digital life, and energy services. The firm has already
partnered with innovative companies such as Carbon3D, Chargepoint,
Claroty, DesktopMetal, Graphcore, JustPark, Life360, Moovit, Nauto,
Scoop, Stratim, Tekion, Turo, Xometry and Zendrive. BMW i Ventures
invests in all stages from seed and incubation to growth companies.
About Zūm
Zūm is the leading provider of safe, efficient and reliable child transportation for school districts and working families. Zūm is committed to saving schools money and parents time by providing flexible ride options, through highly vetted drivers. Since its inception at Stanford University, Zūm has provided over 3.5 million miles of safe and reliable rides and helped parents save over 200,000 hours - and counting. Founded by siblings Ritu Narayan, Vivek Garg, and Abhishek Garg, Zūm is backed by leading venture capital firms including Sequoia Capital and Spark Capital. The company is headquartered in Redwood City, Calif. For more information or to book a ride, visit www.ridezum.com. To apply to be a driver, visit www.ridezum.com/drive.
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