Motorq announces $2M Seed Funding to Scale Its Connected-Car Data and Analytics Platform
By Arun Rajagopalan | Co-Founder & CEO
May 17, 2018
We are excited to announce that Motorq Inc. has raised $2M in seed financing to scale up its connected car data and analytics platform. The round was led by Monta Vista Capital and Fraser McCombs Capital, with participation from Purple Arch Ventures, Story Ventures, Milliways Ventures, and others.
Our software platform enables access to connected vehicle data and analytics at scale so that enterprises such as fleets, insurance companies and governments can rapidly improve operations and expand services. We future-proof the vehicle data strategy for these enterprises, empowering them to lead in the new mobility world.
The future of car data entails ubiquity – more data sources, more complexity in each source, and more collaboration between the automotive OEMs and the above-mentioned enterprises. Our early customers and data partners share this sentiment – the market needs a source-agnostic platform to scale meaningfully.
Based on customer and OEM feedback, we have built a highly scalable and secure cloud platform (the data ‘plumbing’) that enables our customers to get source-agnostic data and insights across their assets. Our platform handles the non-trivial problem of interoperability for our customers, and our simple, yet powerful APIs enable them to focus on their core. We are most excited about our analytics products – both what the market needs now, and what the new mobility world will need in the future.
Quoting Mark Norman, General Partner at Fraser McCombs – “Many companies are building connectivity solutions for new logistics and mobility services that will transform the movement of people and goods. Motorq provides the intelligent middleware that will provide access to the data and insights these companies need to succeed.”
We thank those that helped us navigate this complex market – our advisors, early customers and partners, and investors. The funding will enable us to hire talent and expand our customer base. We are hiring for the following roles – software engineering (distributed systems, large datasets, real-time stream processing and analytics), product management, business development, and data science.
The future of connected-cars and mobility is fascinating, and we are thrilled to enable this journey for our customers and partners.
The Motorq team