Flybits, a company that originally incubated at Ryerson University’s Digital Media Zone (DMZ), has announced a $3.75 million Series A investment from Robert Bosch Venture Capital, Trellis Capital, MaRS Investment Accelerator Fund and Ryerson Future. This brings the total amount raised to $4.05 million since 2012. The company will use the investment for product development, and expand its market presence within the United States and Europe.
“Involving high-‐quality investors such as Bosch and Trellis demonstrates the potential in our unique approach to designing Intelligent Mobility Solutions that are intuitive and scalable,” said Dr. Hossein Rahnama, CEO and Founder of Flybits. “In particular, having Bosch as a strategic investor means we leverage their global expertise in software automation, connected communities and sensor technologies as we support new and existing international customers, and scale and develop both our team and our products.”