Denso is to invest in carsharing platform, Ridecell as a significant contributor to the company's recent Series B funding round.

Ridecell technology provides a platform for automakers, auto dealerships, and other new mobility providers to launch and operate mobility solutions, such as carsharing or ridesharing programmes.

Denso has provided funding to start-ups focusing on four core areas: autonomous driving, connected vehicles, cybersecurity and mobility and IoT.

"The transportation and automotive start-up community has transformed over the past few years and mobility is at the core," said Tony Cannestra, Director of Corporate Ventures at Denso director of Corporate Ventures, Tony Cannestra.

"Established industry leaders and start-ups need to work together to craft products and solutions ushering in the future of transportation."

Ridecell integrates technology to automate the end-to-end process of carsharing or ridesharing programmes, from registration to scheduling and payment.

"Ridecell and DENSO share a vision of safer, more efficient and sustainable mobility solutions," said Ridecell CEO, Aarjav Trivedi.

"Through our cooperation with Denso we'll continue to develop a platform making it easier for cities, campuses and mobility providers to build and scale carsharing and ridesharing programmes."

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