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Otonomo Technologies Ltd - OTMOW STOCK NEWS

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Otonomo (OTMO) is a neutral automotive data services platform that enables the development of new apps and services for drivers, passengers, municipalities, and transportation companies. The platform aggregates, cleanses, normalizes, and enriches automotive data to match the needs of innovative apps and services, enhancing the driving experience and promoting safer transportation. With over 75 partners in its ecosystem, Otonomo offers services such as vehicle maintenance, public safety, parking, on-demand fueling, in-vehicle delivery, and smart city support.
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Otonomo shareholders approve business combination with Urgent.ly, creating a new mobility services company. The combined company will operate as Urgent.ly, Inc. and list on Nasdaq under ticker symbol ULY.
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Otonomo Technologies announces Q2 2023 financial results, completed cost reduction initiative, and exchange offer for outstanding warrants. Recurring revenue for Q2 2023 grew 33% YoY, while annual recurring revenue decreased by 13% YoY. The company added 4 new customers and saw an 85% increase in bookings YoY. GAAP operating loss for Q2 2023 was $8.2 million. Cash and cash equivalents as of June 30, 2023, were $119.2 million. Otonomo completed a 1-for-15 reverse share split of its ordinary shares.
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Otonomo announces expiration and results of exchange offer and consent solicitation for its public and private placement warrants. 63.7% of public warrants and all private placement warrants were validly tendered. Company expects to accept all validly tendered warrants for exchange and settlement. Company executed warrant amendment and will exchange remaining untendered warrants for Ordinary Shares on September 7, 2023. Registration Statement on Form F-4 declared effective by SEC.
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Otonomo extends expiration date for exchange offer and consent solicitation for its outstanding warrants. The offer is now scheduled to expire on August 22, 2023. Holders of warrants have the opportunity to receive 0.0167 Ordinary Shares in exchange for each warrant tendered. The Company is offering up to 230,877 Ordinary Shares in exchange for the warrants.
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Otonomo Inc. has partnered with LeasePlan USA to enhance its connected vehicle ecosystem. This strategic alliance will integrate Otonomo’s vehicle data platform into LeasePlan’s OneConnect telematics, allowing clients to improve management of driver behavior, fuel costs, and maintenance across various vehicles without aftermarket devices. LeasePlan’s EVP Transformation highlighted that this collaboration strengthens its position in connected mobility and expands direct vehicle connectivity to major automakers like Toyota and Ford, unlocking new fleet analytics opportunities.

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Otonomo Technologies Ltd. (Nasdaq: OTMO) announced the appointment of Vered Raviv Schwarz and Jonathan Huberman to its Board of Directors. Schwarz, with 28 years of leadership and M&A expertise, previously served as COO of Fiverr and General Counsel at various tech companies. Huberman has over 25 years in high-tech leadership, including roles at Ooyala and Syncplicity. Otonomo provides a vehicle data platform, processing over 4 billion data points daily, essential for services like traffic management and predictive maintenance.

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On August 16, 2021, Otonomo Technologies Ltd. (NASDAQ: OTMO) announced its management team will ring the opening bell at Nasdaq MarketSite in New York City on August 17, celebrating the commencement of its trading. CEO Ben Volkow expressed excitement about the company’s role in transforming the automotive industry through data. Otonomo’s platform processes over 4 billion data points daily from 40 million vehicles, providing GDPR-compliant solutions for various applications, including emergency services and predictive maintenance.

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FAQ

What is Otonomo (OTMO)?

Otonomo is a neutral automotive data services platform that facilitates the development of new apps and services for drivers, passengers, municipalities, and transportation companies.

How does Otonomo aggregate and enrich automotive data?

Otonomo aggregates, cleanses, normalizes, and enriches automotive data from multiple sources to meet consumers' privacy expectations and maximize its value through a global marketplace.

What services does Otonomo provide through its platform?

Otonomo offers services like vehicle preventive maintenance, public safety, parking, on-demand fueling, in-vehicle delivery, smart city support, and other innovative use cases through its network of over 75 partners.

What is the goal of Otonomo's ecosystem partners?

The goal of Otonomo's ecosystem partners is to enhance the driving experience, promote safer transportation, and develop new services and apps that leverage automotive data for various mobility solutions.

Where can I find more information about Otonomo (OTMO)?

For more information about Otonomo and its services, you can visit their website at www.otonomo.io or contact them via email at Otonomopress@otonomo.io.

Otonomo Technologies Ltd

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