ULU, a Dutch telematics startup, received €500k in funding.
The Chinese Fang Group made the investment. Mina Yu, Director of Fang Group Investment Limited, joined ULU’s supervisory board.
The company intends to use the funds to accelerate sales in the Benelux market, optimize and develop the system and grow the partner ecosystem.
Led by Jošt Faganel, co-founder and CEO, ULU provides all stakeholders in the car ecosystem with an information platform including:
– a plug-and-play device (Dongle), which can be connected to the car’s service port – the OBD-port. The Dongle collects key car performance and health information such as location, speed and behavior through the accelerometer and overall vehicle diagnostics. It features GPS, accelerometer and GSM connectivity with global roaming built in;
– a cloud that interprets all collected data in real time, understands the context of the locations, triggers location alerts, provides valuable statistical information and acts as the hub connecting the car to the internet-of-things; and
– an interface, accessible by mobile and web, which contains insights of the vehicle such as battery health, defects, usage, mileage and driving behaviour.