Otonomo Partners With Renault Group for Fleet Modernization
Otonomo Technologies Ltd. (NASDAQ: OTMO) has announced a multi-year partnership with Renault Group to enhance fleet management solutions. This collaboration allows fleet customers easier access to actionable vehicle data without the need for aftermarket hardware, reducing costs and installation time. Otonomo's software-based telematics will improve operational efficiency for various fleet operators. CEO Ben Volkow emphasized the significance of this partnership in driving future business models in mobility.
- Partnership with Renault enhances data access for fleet solutions.
- Eliminates need for expensive aftermarket hardware.
- Improves operational efficiency and reduces management costs.
- Expands Otonomo's Smart Mobility Data Platform capabilities.
- None.
Leveraging Renault Data, Otonomo Enables Fleet Solution Providers to Achieve Better Operational Efficiency
HERZLIYA, Israel and SAN FRANCISCO, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Otonomo Technologies Ltd. (Nasdaq: OTMO), the platform powering the mobility economy, today announced a multi-year partnership with global automobile manufacturer Renault Group. Under the agreement, in partnership with Renault Group, Otonomo will provide to its fleet customers easier and cost-effective access to rich, actionable vehicle data insights across multiple vehicle brands. Unlike other solutions that require aftermarket hardware such as an on-board diagnostics (OBD) dongle to be installed to gain access to the telemetry data, Otonomo is able to access the vehicle data directly from Renault Group through Renault’s cloud platform, Easy Connect for Fleet, solutions dedicated to fleet management. Moving from hardware to software-based telematics can reduce installation and maintenance costs for fleet customers as well as time spent managing these aftermarket devices.
Otonomo is one of the first major multi-brand software platforms to partner with Renault Group that does not require aftermarket hardware to be installed to access fleet vehicle data. Otonomo delivers this data through open APIs and a proprietary data normalization process, reducing the customer’s need for intensive engineering investments. Delivering vehicle data through a single platform reduces complexity and administrative costs for fleet operators.
“Working with Renault Group is another important milestone that will drive future fleet business models, strengthen our fleet offering and continue innovating in the automotive and mobility sectors leveraging their extensive connected vehicle data,” said Ben Volkow, CEO and co-founder at Otonomo. “This partnership not only enables Renault Group to expand its portfolio to serve new multi-brand fleet owners, but also enriches our Smart Mobility Data Platform, which helps our customers focus on value creation instead of data pipelining and connectivity engineering.”
About Otonomo
Otonomo (NASDAQ: OTMO), the platform powering the mobility economy, is igniting a new generation of mobility experiences and services and is making mobility more accessible, equitable, sustainable and safe. With Otonomo, over 100 providers in the transportation, mobility, insurance, and automotive industries are finally able to harness mobility data and insights and transform them into strategic assets and market advantages.
Our partners gain access to the broadest, most diverse, range of data from connected vehicles, mobile phones, public transport, EV infrastructure, and MaaS with just one contract and one API. Vehicle and multimodal mobility data is reshaped and enriched to provide deep visibility and actionable insights and empower planning, deployment, and operations.
Architected with privacy and security by design, our platform is GDPR, CCPA, and other privacy regulation compliant, ensuring all parties are protected and companies remain privacy compliant across geographies worldwide.
Otonomo has an R&D center in Israel and the UK, with a presence in the United States and Europe. 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, the ability to successfully integrate Neura and The Floow, 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 annual report on Form 20-F filed with the SEC on March 31, 2022 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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