Otonomo Raises $46m to Expand Auto Data Platform

Israel-based automotive data services platform Otonomo has raised $46m in a Series C round of funding, which it will use to scale its business and for geographical expansion.

Otonomo's platform ingests more than 2.6 billion data points per day from over 20 million global connected vehicles; then cleanses, normalizes and aggregates the data and enriches it with third-party datasets, to understand time-to-market for new services. Data can also be used by companies to develop apps and services for fleets, smart cities and individual consumers. The firm's R&D center is based in Israel, and it also has a presence in the US, Europe and Japan.

New funding includes investments from SK Holdings, Avis Budget Group and Alliance Ventures, as well as participation from existing investors such as Bessemer Venture Partners, bringing total funding raised to $82m.

CEO and founder Ben Volkow (pictured) comments: 'These Series C funds will enable Otonomo to expand our global footprint, further innovate our products, and cement our leadership position. We now have the expanded resources needed to deliver on our vision of making car data as valuable as possible for the entire transportation ecosystem, while adhering to the strictest privacy and security standards'.

Web site: www.otonomo.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.