Tel Aviv-based otonomo, a connected car platform, has raised a $25 million Series B round led by car parts maker Delphi Automotive with participation from Bessemer Venture Partners, StageOne Ventures, and Maniv Mobility.
The new funds will be invested in expanding the company’s data exchange marketplace for the automotive industry globally. Lead investor Delphi has also signed a new commercial partnership with otonomo to help develop and expand data services for car OEMs.
“Data is driving the future of the automotive industry,” said otonomo CEO Ben Volkow.
“With our connected car platform, we provide a trusted gateway between the services and third party applications drivers want, and the security the automotive industry requires,” he said.
“With consumers now demanding more connectivity in their vehicles, we are committed to investing in cutting-edge technologies to leverage the value of this data for our customers,” commented Delphi CTO and senior vice president Glen De Vos.
This Series B round comes just five months after the company’s Series A round of $12 million.
Would you like to write the first comment?Login to post comments