OVO Automotive, a Tel Aviv, Israel-based “Vehicle Infotainment as a Service” company providing car fleet businesses control over their connected vehicle screens, grabbed $3.5 million in funding.
The investment round was led by Regah Ventures and angel investors, including a partner in Benchmark Capital, Venture Capital Fund from Silicon Valley, and Michael Van Swaaij, former Skype CEO.
The funding will help OVO develop a cloud-based solution in collaboration with significant players in the automotive industry. It is a SaaS service that streams apps from the cloud platform directly to the vehicle screen.
Currently, OVO is raising SAFE investment on the Pipelbiz crowdfunding platform.
Company: G.O. Ovo Automotive Ltd.
Funding Month: September 2022
Lead Investors: Regah Ventures
Additional Investors: Benchmark Capital, Venture Capital Fund, and Michael Van Swaaij
Company Website: https://ovo.auto/
Software Category: Vehicle Infotainment as a Service
About the Company: Founded by entrepreneur Dr. Zlotkin, OVO Automotive is a B2B SaaS company providing car fleet businesses like mobility players, fleet owners, and car dealers full and remote control over their connected vehicle screens, driving in-vehicle customer ownership and enablement. OVO uses an original cloud-based app delivery method. It supports plug-and-play to any existing infotainment system, enabling in-vehicle customer interaction independent of automakers and Apple/Google. Using OVO’s technology, the automotive sector can now run applications in the cloud and seamlessly stream them to the screen on any connected vehicle. OVO has filed patent applications for the optimal implementation of cloud-based application streaming technology in vehicles and has partnered with four strategic companies for the development of an automotive-grade solution. At the end of the development process, these strategic partners, some of which are the biggest players in the automotive industry, will also become potential customers for the service.