The automotive data services start-up, Otonomo, has announced $46 million in series C funding. The round includes investments from SK Holdings, Avis Budget Group, and Alliance Ventures. This round brings the company’s total funding raised to $82 million.
Otonomo says it will use the funds to further scale its business. The company also plans to expand into additional geographies.
Its platform securely ingests automotive OEM data, then reshapes and protects it so companies can use the data to develop a host of apps and services for fleets, smart cities and individual consumers. Publicly announced partners of the company include Daimler, BMW, Mitsubishi Motor Company and Avis Budget Group.
Ben Volkow, CEO and founder, Otonomo, says: “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.”
Christian Noske, Managing Director of Alliance Ventures, adds: “We researched many companies and determined that Otonomo is the automotive data services platform leader with the best vision, technology, team, and market adoption. We are excited about the company’s traction and great potential.”
Alliance Ventures is the venture capital arm of the Renault-Nissan-Mitsubishi partnership.
With an R&D center in Israel, and a presence in the U.S., Europe, and Japan, Otonomo collaborates with twelve industries to transform their business with car data