Revvo (formerly known as IntelliTire), a San Francisco, CA-based startup that offers an internet of things (IoT) “smart” sensor for vehicle tires, raised $4M in Series A funding.
The round was led by Norwest Venture Partners, with participation from Vulcan Capital and AngelList.
The company will use the financing to continue to build the product and expand its technical and business development teams.
Led by Sunjay Dodani, Ph.D., CEO, Revvo has built a sensor-enabled AI software platform to monitor tires while a vehicle is on the road. The technology includes proprietary sensors that are embedded inside the tire, which generate a real-time feed of a tire’s condition and performance. The sensors capture thousands of data points per second from the interior of the tire which is sent to the cloud via an app on the driver’s phone. Artificial intelligence and machine learning models are applied to the aggregated data set to better predict tire tread wear.
The company’s initial focus will be on the fleet sector, a segment consuming tires at a high rate with clear pain points around tire usage.
FinSMEs
26/03/2019