Automotive parts supplier Delphi Automotive has led a $25m series B round for Otonomo, the Israel-based creator of a data exchange marketplace for the automotive industry.
Venture capital firms Maniv Mobility and Bessemer Venture Partners also took part in the round along with VC fund StageOne Ventures.
Founded in 2015, Otonomo has built a cloud-based platform that allows drivers, carmakers and transport service providers to access data generated by vehicles. The series B cash will support the company’s expansion in the US, Europe and Asia.
Delphi participated in the round as part of a strategic partnership that will facilitate the development and introduction of new data services for car part manufacturers.
Glen De Vos, Delphi’s chief technology officer, said: “This collaboration agreement serves to strengthen our capabilities in data and software technologies, vital for the long-term growth within the automotive market.
“We are looking forward to working together with Otonomo to support the continued development of this exciting technology.”
Bessemer Venture Partners had already led Otonomo’s last round, a $12m series A in November 2016 that included StageOne Ventures, Maniv Mobility and VC firm LocalGlobe.
– Image courtesy of Otonomo