Israel-based Otonomo signs data-sharing collaboration with Fiat Chrysler
10 June 2020 - calcalistech
Otonomo develops ways to monetize data collected by smart cars, acting as a middleman between carmakers and third-party companies that offer automotive-related services
Otonomo Technologies Ltd., an Israel-based startup that offers technology to monetize the data collected by cars, signed on Tuesday a commercial agreement with automotive giant Fiat Chrysler Automobiles (FCA) to increase the use of vehicle data. The company did not divulge the agreement's details but it is estimated to be worth tens of millions of dollars.
"The contract with Fiat Chrysler joins eight other contracts Otonomo has with various car companies such as Daimler, BMW, Mitsubishi, Peugeot, and others. Otonomo has positioned itself as a global leader in vehicle information processing and sits at the strategic junction of data and mobility," Otonom's CEO Ben Volkow told Calcalist in an interview. "We are seeing strong momentum even in these days of the global health crisis and the auto industry crisis. Automotive companies want to raise revenue and compensate for the decline in vehicle sales. Making use of data and adding digital services are business that can be done successfully even during the global crisis."