Otonomo and AUDI AG Partner to Enable Innovative, Data-Driven Services
Otonomo Technologies announced a partnership with Audi, granting GDPR-compliant access to vehicle data, enhancing mobility solutions for Audi owners. This collaboration marks Otonomo's fourth OEM contract in six months, underlining its growth in automotive partnerships.
With the integration of vehicle data, services such as pay-as-you-drive insurance and vehicle status updates can be provided. The partnership is expected to streamline the adoption of data-driven applications in the automotive sector, providing actionable insights for consumers and service providers alike.
- Partnership with Audi enhances Otonomo's mobility solutions portfolio.
- Fourth OEM contract within six months indicates strong growth trajectory.
- Access to actionable vehicle data enables new service offerings for customers.
- None.
- Audi provides Otonomo with GDPR-compliant access to Audi car data, accelerating the development of cutting-edge mobility solutions.
- This OEM contract is Otonomo’s 4th in the past 6 months, highlighting Otonomo's continuing momentum of automotive manufacturer partnerships.
HERZLIYA, Israel and SAN JOSE, Calif., Jan. 25, 2022 (GLOBE NEWSWIRE) -- Otonomo Technologies Ltd. (Otonomo), (Nasdaq: OTMO), a leading mobility intelligence provider, today announced AUDI AG as a vehicle data platform partner. With access to rich, actionable vehicle data, Audi’s customers and business partners can create consumer offerings that enhance the user experience for Audi vehicle owners, ranging from pay-as-you-drive and insurance services, to general vehicle status, to first notification of loss.
“Otonomo’s mobility intelligence platform unlocks the value of connected vehicle data while maintaining GDPR (General Data Protection Regulation) compliance,” said Thomas Geiger, Project Manager Extended Vehicle AUDI AG. “We see the enabling of services for multi-brand solutions through Otonomo’s customers, from start-ups to major corporates in their industries, as a key differentiator. We believe this will fast track the adoption of vehicle data-driven applications.”
The Otonomo mobility intelligence platform cleanses, harmonizes, and secures vehicle data and makes it readily accessible through Otonomo's straightforward API and user-friendly platform. Under the terms of the partnership, Audi will provide Otonomo with data points from Audi connected cars, ranging from odometer readings to crash information, including impact location and severity.
At launch, Audi and Otonomo will start with a couple of dozens of data points, spanning use cases such as:
- Pay-as-you-drive (PAYD): This data can be used for usage-based insurance and includes data elements such as mileage readings and parking time.
- First Notification of Loss (FNOL): This use case is of interest to insurance companies and contains information about accident events, the severity of the accident and the location of the impact.
- Vehicle Status: This includes, among other things, the status of doors or a sliding roof.
With consumers in mind, this data can be used to augment and innovate traditional service offerings, especially when it comes to insurance, vehicle safety and stolen vehicle recovery. We believe leveraging the Otonomo vehicle data platform lowers the barrier of entry into the auto-adjacent services market for service providers. Consuming vehicle data is more efficient and more affordable with one API, one data dictionary across multiple brands, and one streamlined contract.
“Otonomo's vehicle data platform will bring value to Audi buyers. It will make it easy for Audi to simplify access to Audi connected car data and accelerates the time-to-value of data-driven business models,” said Ben Volkow, CEO and Co-Founder of Otonomo. “Audi is a market leader, and this partnership is an important opportunity that will allow us to collaborate on innovative technologies and emerging services. Additionally, we are excited to share with Audi and our extended ecosystem the new mobility intelligence solutions Otonomo provides.”
About Otonomo:
Otonomo fuels a data ecosystem of OEMs, fleets, and more than 100 service providers spanning the transportation, mobility, and automotive industries. Our platform securely ingests more than 4 billion data points per day globally from over 40 million vehicles licensed on the platform and massive amounts of mobility demand data from multimodal sources, then reshapes and enriches it, to accelerate time to market for new services that improve the mobility and transportation experience. We provide deeper visibility and actionable insights to empower strategic data-driven decisions – taking the guesswork out of mobility and transportation planning, deployment, and operations. Privacy by design and neutrality are at the core of our platform, which enables GDPR, CCPA, and other privacy-regulation-compliant solutions using both personal and aggregate data. Use cases include emergency services, mapping, traffic management, EV management, subscription-based services, micro-mobility, parking, predictive maintenance, insurance, media, in-vehicle services, and dozens of smart city solutions.
More information is available at otonomo.io
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Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Otonomo, the anticipated technological capability of Otonomo, the markets in which Otonomo operates and Otonomo’s projected future financial and operational results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive data marketplace. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Otonomo’s prospectus filed with the SEC on November 3, 2021, and other documents filed by Otonomo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Otonomo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Otonomo gives no assurance that it will achieve its expectations.
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