Sheeva.AI, a Virginia, USA-based company that provides in-vehicle location-based services, and payments for a connected future closed $9.25 million Series A funding.
The round was led by Reynolds and Reynolds Company, with additional funding from Poppe + Potthoff Capital GmbH and Pegasus Tech Ventures.
This funding will be used to build out its production team, aimed at growing its automotive partner footprint, as well as adding new services partners across the fueling, EV charging, parking, tolling, curbside retail, and QSR drive-thru verticals in the US, India, Europe, and Japan.
“This investment shows the same level of belief and faith that the entire Sheeva.AI team has in the future of in-vehicle commerce and payments,” said Evgeny Klochikhin, founder and CEO of Sheeva.AI. “As OEMs, energy marketers and retailers of all kinds look to the possibilities for new revenue streams and better customer experiences via in-car transactions, I’m proud of what we and all our partners have accomplished so far.”
Sheeva.AI's technology automatically detects the vehicle at the specific gas pump, parking spot, electric vehicle charging space, or drive-through lane and enables payments right on the in-vehicle infotainment screen or in any OEM’s mobile app.
Company: Parkofon Inc.
Round: Series A
Funding Month: January 2023
Lead Investors: Reynolds and Reynolds Company
Additional Investors: Poppe + Potthoff Capital GmbH and Pegasus Tech Ventures
Company Website: https://www.sheeva.ai/
Software Category: In-Car Payments and Commerce solution
About the Company: Founded in 2016, Sheeva.AI has developed an in-car payments and commerce solution that introduces vehicle location-based services to monetize the driver experience. Its patented precise geolocation technology allows drivers to seamlessly pay for and receive services such as fueling, EV charging, parking, curbside pickup, and drive-through without leaving the comfort of their vehicle. Using the Sheeva open API, it integrates payments directly via the cloud and SDK through a secure digital wallet, requiring no additional hardware and no new apps. It is headquartered in Tysons Corner, VA, with key offices in Detroit, MI, as well as New Delhi (India), Dresden (Germany), and Nagoya (Japan).