OVO Automotive, a Tel Aviv, Israel-based provider of ‘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.
Founded by entrepreneur Dr. Zlotkin Gilad, OVO Automotive uses an original cloud-based app delivery method, plug-and-play to any existing infotainment system, enabling in-vehicle customer interaction independent of automakers and Apple/Google. Using the technology, the automotive sector can now run applications in the cloud and stream them to the vehicle screen for the first time. In-Vehicle Infotainment systems do not run the applications, so the safety and security of the vehicle, driver, and passengers is not compromised. Currently, OVO is raising SAFE investment on the Pipelbiz crowdfunding platform.
With OVO, car fleet businesses like car rental, sharing, leasing, importers and dealers gain complete and remote control over their connected vehicle screens, enabling them to provide branded, differentiated, localised and personalised customer experiences in their vehicles. Additionally, OVO offers its fleet business clients the opportunity to upsell value added services such as insurance, roadside assistance, maintenance, charging/fueling, parking, and other location-based services tailored to specific driver and vehicle requirements.
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.
