Taxelco, a company founded by XPND Capital, has just unveiled Téo
Téo will eventually require a total investment of $250 million to be financed by XPND Capital’s partners, including Investissement Québec, which has injected $10 million into the XPNDCROISSANCE fund
The cabbies hired by Téo drive vehicles whose use is managed in real time by embedded telematics and geolocation technologies. These technologies optimize vehicle availability by integrating geolocation and charge cycle data and centralizing management of peak periods.
Téo taxis will officially hit the streets in mid-March 2016. Until then, Téo will undergo a trial run during which 500 people will try out the service and the features of its mobile app. The app allows customers to share a ride and book travel ahead of time.
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