US transportation robotics company Superpedestrian has completed a $16.5m funding round that the firm says is to be used to bring to market its electric bike sharing technologies.

The new financing comes from investors Charles Kim of Extol Capital, Spark Capital, General Catalyst and other investors. This brings Superpedestrian’s total investment to nearly $44m.

The new product Superpedestrian is selling is the ‘Copenhagen Wheel’, a battery powered motor that a drives a bike.

Rather than selling them to the retail market, Superpedestrian is aiming at fleet operators such as ride hailing companies. Included in the package is a built in self-diagnostic system that makes it very useful for the e-bike sharing market.

In a statement, Assaf Biderman, the CEO of Superpedestrian, explained: “Superpedestrian’s technology overcomes major issues faced by the industry.

“Our e-bikes autonomously manage themselves through onboard diagnostics, self-protection, and self-calibration, and then connect to a remote maintenance system that can service the entire fleet. If you rely mostly on users to report that something is broken, that’s too late. We know what’s going on inside each of our e-bikes and can resolve most issues before they occur.”

Superpedestrian’s fleet offering also includes a cloud-based service for efficient deployment of maintenance and battery-swapping operations, and the company’s technology can similarly be applied to shared scooters and mopeds.