Cloud-based connected car start-up Otonomo raises USD12 million
Company to use fund in further developing its product portfolio and scaling up operations
Cloud-based connected car start-up Otonomo has raised USD12 million in Series-A funding, according to media reports. The funding was led by Bessemer Venture Partners and StageOne Ventures. Including the Series-A funding, the Israel-based company has raised USD15 million so far. Otonomo will use the fund in further developing its product portfolio and scaling up operations. Along with raising the capital, the company announced appointment of Steve Girksy, a former vice chairman of GM, and Mary Chan, a former general manager of OnStar. Otonomo has also appointed Andy Geisse, former head of AT&T Business Solutions in its board.
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