Zum Fast-Tracks Revolution To Modernize School Transportation With $140M Funding Round Led by GIC
REDWOOD CITY, Calif., Jan. 31, 2024 /PRNewswire/ -- Zūm, the leading provider of modern student transportation, today announced a $140 million Series E funding round. This new funding round was led by GIC, a leading global investment firm. Climate Investment, a decarbonization investor, and existing investors including Sequoia and SoftBank Vision Fund 2 also participated in the round, elevating the company's valuation to $1.3 billion—a significant increase from its previous series D raise in Oct 2021. This round brings Zum's total fundraise to $350 million.
- This new funding round was led by GIC, a leading global investment firm.
- Zum has transformed the outdated student transportation industry, previously riddled with inefficiencies and a lack of transparency, through its innovative approach to digitization and electrification.
- It is also leading the industry forward with the shift to EV school buses in major metropolitan school districts.
- From modernizing student transportation to modernizing the grid, Zum is ushering in a new green era through its advanced technology and electrification.