Mobility platform specialist Neology has received $38m of investment, to be focused on infrastructure, from private equity firm Ainda.
The two companies plan to collaborate on growth in Mexico and South America.
Neology also has another $12m in cash from its subsidiary - and says that it will be able, among other things, to "pursue inorganic growth opportunities".
“Neology’s expertise in electronic toll collection, enforcement and smart mobility solutions together with Ainda’s direct experience in transportation projects and investments in highway infrastructure in Mexico will drive double-digit growth going forward,” says Neology CEO Francisco Martinez de Velasco.
Ainda CEO Manuel Rodriguez Arregui says the partnership in Latin America will offer solutions that provide "a better journey to toll road users through well-designed, consumer-centric technologies that supply contactless toll road fee payments systems, robust account management, and real-time notifications".
In addition, he says they will create "a new responsible way for people to use transportation in large metropolitan areas with smart mobility technologies that optimise convenience, revenue generation, and the journey experience".
An efficient enforcement platform based on artificial intelligence and deep learning will help advance clean air zones, reduce congestion and improve security, he concludes.
