Smart Car Co. Otonomo Raises $25M

By NoCamels Team April 09, 2017 Comments

otonomoApril 10, 2017 | Israeli smart car company otonomo has closed a $25 million series B financing round led by Delphi Automotive with participation from Bessemer Venture Partners, StageOne Ventures and Maniv Mobility. The company plans to use the funds to continue developing its automotive industry data exchange platform, and to expand globally into the US, Asian, and European markets. Based in Herzliya, otonomo was founded by CEO Ben Volkow and president Avner Cohen. The company has developed a cloud based platform that facilitates services for autonomous and connected cars. The company has raised $40 million to date including a $12 million Series A financing round just five months ago in November 2016. The company also opened offices in Menlo Park, California.

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