Delphi and otonomo to build auto-generated Data Marketplace for Automakers
9 April, 2017
Delphi Automotive led a $25 million financing round in otonomo, and will embed otonomo software in its systems to create a unique cloud-based, connected car data marketplace
“When I think about the car of the future, I think about data,” twitted last week Glen De Vos, the chief technology officer of Delphi Automotive, one of the biggest Tier-1 supplier for the Automotive Industry. The twitting came immediately following a commercial partnership agreement signed between Delphi Automotive PLC (NYSE: DLPH) and otonomo, an Israel-based technology company developing a data marketplace for automakers.
A new type of Data Highway
otonomo’s connected car marketplace seamlessly and securely connects car data from any OEM to service and application providers such as insurance, fleet transportation, vehicle repair services, emergency services and expense control apps. By aggregating, anonymizing, and organizing car data, otonomo’s marketplace provides OEMs with full control over monetizing the valuable data from connected vehicles.
Delphi also led a $25 million series B financing round in otonomo, with additional participation and all existing investors, including Bessemer Venture Partners, StageOne Ventures and Maniv Mobility. The investment will be utilized to drive the company’s aggressive global expansion plans as market demand dramatically increases.
Glen added: “otonomo enables a cloud-based, connected car data marketplace. They offer a way for car makers and drivers a way to make use of the massive amount of data generated by cars by creating a marketplace that service providers like insurance, fleet, retails and smart city emergency services can tap into.”
Delphi’s Data Strategy
otonomo was founded in 2015 in Herzliya, Israel by the CEO Ben Volkow, and the president Avner Cohen. In November 2016, it raised $12 million in aseries A financing round led by Silicon Valley venture capital firm, Bessemer Venture Partners and Stageone Ventures.
“Gartner has predicted that by 2020, a quarter of a billion connected vehicles will be on the road—all of which will depend on in-car digital apps,” said Ben Volkow. “But in order for cars to provide the best connected service for drivers, car manufacturers need a platform they trust to share and negotiate data between them and application providers while meeting different data and privacy regulations that respect and accommodate drivers’ privacy. Our integrated cloud-based platform is a trusted gateway between the services and apps drivers want and the security the automotive industry needs.”
4,000 GB of value
When Intel has announced the acquisition of Mobileye in March 2017, it estimated that “by 2020, autonomous vehicles will generate 4,000 GB of data per day, which plays to Intel’s strengths in high-performance computing and network connectivity.” From Delphi/otonomo point of view, it means a lot of data with a lot of value – maybe even more than the car value itself…