Automile, a Stockholm, Sweden-based platform that connects cars and their data to the cloud, raised $5m in Series A funding.
The round was led by Dawn Capital and Point Nine Capital.
The company intends to use the funds to expand its global presence and continue developing new services for car owners.
Founded by serial entrepreneur Jens Nylander, Felix Rosén and Jacob Pontén, Automile provides a platform that connects cars and their data to the cloud via a self-installed device that works globally on all vehicles.
The first product, Automile PRO, automates trip reporting and legal compliance while offering savings to fleet owners through reducing fleet risk, lower insurance and maintenance costs. Launched in September 2014, the product is used by hundreds of fleets in Europe and the US.
Going forward, the platform and data will be available to third party developers via an API, powering new applications in fleet management, logistics, and insurance markets or in new markets.
FinSMEs