REMOTED OY - Autonomous Driving Urban Mobility in Europe

REMOTED is an autonomous mobility pioneer that operates shared, electric, and self-driving vehicles. Established in 2022 in Finland, the company soon expanded to operate automated cars in five cities across two European countries. The company accurately targeted improving the mobility experience of consumer groups by providing superior user experiences, where the last mile of public transportation is supplemented with a roto bus as a mini-shuttle.

In 2023, REMOTED generated EUR 2.1 million in revenue from deployed autonomous assets and EUR 2.9 million in deals in execution. Now, a few Robo-buses have been operating in three cities in Finland, transporting hundreds of passengers daily. With its proven business model and technologies in robo-bus and operating static routes, REMOTED aims at the Robo-taxi market, developing its own car-hailing application and working out integrated operating systems that manage cars from multiple autonomous-driving vehicle suppliers toward the required standards by European legislation.

REMOTED GLOBAL is the next step in REMOTED's growth path to become a world leader in autonomous mobility. It is established to scale up the REMOTED business by enabling the country organisations to provide autonomous mobility services to local markets. REMOTED GLOBAL will acquire autonomous vehicles and offer them under a leasing agreement with a monthly fee to group companies.

REMOTED seeks EUR 10 million (with EUR 40 million pre-money valuation) from series A financing to accelerate its global expansion and enter the Robo-taxi business, with developed expertise in deploying and operating automated vehicles from various Autonomous Driving Systems (ADS) technology suppliers. Remoted Global Limited was established in Hong Kong as a Holding Company to raise funds from potential investors. The fund will

* Build Remoted Global Limited as for intra-group leasing business

* Further support building driverless operations in two EU markets,

* develop fleets of 100 robo-taxies to 2-3 cities, and

* promote REMOTED as an outstanding brand in the global Mobility as a Service (MaaS) sector.

The current funding round in 2024 Q4 aims to accelerate the business's further growth to EUR 12 million in revenue from 2025 to 2027. The business case is profitable with as few as two vehicles. With the help of autonomous technology, REMOTED can gain improved profitability compared to incumbents.