Currently, the automotive industry is experiencing a revolution through digital transformations. It is crossing the edge of reinvention. Under the hood, the Internet of things (IoT) is an engine that drives innovation in the automotive industry. Consumers and businesses alike recognize the benefit of automated intelligent control, which has resulted in the significant growth of IoT. It is believed that in just a few years, connected cars will become a predominant form of automotive transportation. This trend represents a favorable opportunity for Otonomo to deliver value to the industry with its innovative data services. The company believes that, “If big data is the oil that is fueling innovation for connected cars, then Otonomo is a refinery.” The Otonomo automotive data services platform provides simplified and secured data access for services such as predictive maintenance, emergency services, on-demand fueling, insurance, and smart cities.
Otonomo has been fortunate to forge early relationships with its major partners including Microsoft, Daimler, Aptiv and others. Based in Herzliya, Israel, it has been expanding its operations around the world, including Europe, Asia and the US.
Delivering Innovative Data Services
Otonomo offers the first neutral automotive data services platform that simply and securely paves the way for the development of new apps and services for global drivers, passengers, municipalities, and transportation companies. The platform helps automotive Original Equipment Manufacturers (OEMs) meet the needs of millions of drivers for mobility applications and smart city services that make driving safer, more convenient and truly rewarding. Its key features and services involve:
- Putting privacy first
- Neutral Platform extracts more value for everyone
- Creating Network Effects
- Turning raw data into actionable insights
- Moving with speed and agility
- Leading with Innovation, retaining with excellence
In addition to this, its automotive data services platform also provides broad range of services including:
- Privacy and Security by Design
- Consent Management Hub
- Neutral Platform
- Enriched Data and Insights
- Speed and Agility
- Network effects
- Auditing and Billing
A Unique Avenue to Stay Ahead of Competition
Otonomo uses patented technology to aggregate, cleanse, normalize, and enrich connected car data to enable its partners make immediate use of it in their applications. It has built enriched datasets that incorporate relevant third-party sources, aggregated events and metrics for key use cases. Through these datasets, data consumers have 99% less work to do within their own development processes. In addition, Otonomo has a team of experts that partner and strategize with its data consumer partners on the best applications for data that will ultimately deliver value to all the parties involving data provider, data consumer and drivers.
Otonomo works with more than 75 ecosystem partners to transform raw automotive data into insights. As connected cars have become ubiquitous, it is transforming automotive data into a standardized form that can be easily used by other service providers to deliver a truly rewarding driving experience.
The Dynamic Duo
Ben Volkow, CEO and Founder, is a serial entrepreneur whose background is in engineering and telecommunications. Otonomo is his fourth company. The first two companies had successful exits and the third one is thriving. His second company, Traffix, was sold to F5 Networks. While working there, Ben was engaged with BMW to build a database of car data. Through the conversations he held while managing his ‘big data’ team, he realized the potential for connected cars and the uses for the data it produces. This led the incorporation of Otonomo.
As the company continues to grow and develop its operations, it recognized the need to plant flag in Silicon Valley. As a result, Otonomo recently appointed Lisa Joy Rosner as CMO. She is a seasoned data and analytics marketing executive at Silicon Valley with a proven track record of leveraging technology to deliver powerful innovation.
A Valuable Benefit to the Automotive Industry
According to Gartner, there will be more than a quarter of a billion connected cars on the road by 2021. Each of these cars generates more than 25 GB of data per hour. This big data presents a huge opportunity as well as the challenge about the way OEMs and an emerging ecosystem of connected car service providers leveraging this data to realize its full potential.
The company is in the early days of IoT, but from its perspective, understanding the language of all devices in order to help them communicate will be the key.
The Forthcoming Endeavors
Otonomo is working closely with vehicle OEMs and mobility service providers to help deliver the next generation of connected car services. By offering access to quality data from multiple sources, Otonomo enables data-driven decisions for enhanced driver experiences and innovative new services. As connected cars have become a predominant form of vehicles on the road, the company is expecting automotive market to mature significantly in the next 2-3 years
Source :-The 10 Most Innovative IoT Startups to Watch
