Neology Receives $50 Million of Capital Injection to Accelerate Smart Mobility Solutions

Neology Receives $50 Million of Capital Injection to Accelerate Smart Mobility Solutions

SAN DIEGO, Dec. 23, 2021 (GLOBE NEWSWIRE) — Neology, a global innovator that is re-imagining mobility for smart cities and safer communities, today announced a successful investment of $38 million (thirty-eight million dollars) from AINDA, a private equity firm focused on infrastructure, in addition to $12 million (twelve million dollars) of cash coming from Neology’s subsidiary for a total of $50 million (fifty million dollars) in cash.

The infusion of capital will support Neology’s expansion, accelerate the company’s growth, and allow it to pursue inorganic growth opportunities.

Following the transaction, Neology will collaborate with AINDA on strategic value creation initiatives designed to accelerate the business’s existing growth trajectory in Mexico and South America.

“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,” said Francisco Martinez de Velasco, CEO of Neology.

“AINDA is delighted to partner with Neology in Latin America to offer solutions that provide: 1) 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; 2) a new responsible way for people to use transportation in large metropolitan areas with smart mobility technologies that optimize convenience, revenue generation, and the journey experience; 3) an efficient enforcement platform based on artificial intelligence (AI) and deep learning that will help advance clean air zones, reduce congestion, improve security, and other law enforcement initiatives,” said Manuel Rodriguez Arregui, CEO of AINDA.