Internet-of-things hardware producer Xirgo Technologies has acquired the technology and assets of Owlcam, a US-based dashcam developer backed by insurance provider CSAA, for an undisclosed amount.
Owlcam has developed artificial intelligence-powered driver and road monitoring technology that relies on a dual-facing dashboard camera to record and analyse events both on the road and inside the car.
The device is always turned on and connects to a mobile app through 4G to store and review footage. It is designed to detect dangerous driving behaviour, prevent accidents, assist with insurance claims, record police stops and alert owners to break-ins.
The company emerged from stealth in February 2018 under the name Owl – though it has always been incorporated as Owl Cameras – having raised $18m in a series A round featuring CSAA.
Maniv Mobility, Defy.vc, Khosla Ventures, Menlo Ventures, Sherpa Capital and Moment Ventures also took part in the series A round, which was followed by a $10m series A1 round led by Canvas Ventures six months later.
Xirgo will integrate Owlcam’s technology into its telematics product portfolio, accelerating its timeline to add artificial intelligence capabilities to those tools.
Shawn Aleman, Xirgo’s chief executive, said: “We are excited about adding Owlcam’s technology to the Xirgo product portfolio and the immediate impact it’s going to bring to our enterprise customer base.
“Delivering AI camera technology with our existing vehicle telematics products was already part of Xirgo’s short-term road map and strategic vision. The addition of Owlcam technology has allowed us to accelerate that vision, putting us significantly ahead of our original timelines.”
Image courtesy of Owl Cameras, Inc.
