Motorq, a Palo Alto, Calif.-based connected car API company, closed a $7m Series A round of funding.
The round was led by Story Ventures with participation from existing investors FM Capital and Monta Vista Capital and a new strategic investor Avanta Ventures, the investment arm of CSAA, a AAA Insurer.
The company intends to use the funds to continmue to expand operations and its business reach.
Led by Arun Rajagopalan, Co-founder and CEO, Motorq is a connected-car data and analytics software platform company that enables large fleet owners, fleet management companies and dealer services providers to leverage data and actionable insights from built-in and aftermarket advanced connected-car systems. Its cloud-based system ingests and monitors embedded data from a vehicle’s onboard computers, runs advanced analytics and machine learning models, contextualizes the insights with other information sets and delivers those insights to customers via application programming interfaces (APIs) and other tools. Datapoints include vehicle location, charge/fuel use, driver behavior, safety warnings, maintenance alerts, certain remote commands, and other important information.
The company’s new suite of tools include Pre-Delivery Tracking, Full Vehicle Portal, V3 API Access, Snowflake Data Lake Integration, and many others.