ad placeholder

Posted on March 2, 2018 by staff

Smartcar drives off with $10m funding

Smartcar, the connected car technology platform, has raised $10m in Series A financing.

Smartcar is an API platform that enables developers to connect their apps to vehicles. Headquartered in Mountain View, California, the firm is looking to remove barriers to entry into automotive telematics.

Led by New Enterprise Associates (NEA) with participation from Andreessen Horowitz, it brings total investment into Smartcar to $12m.

Forest Baskett from NEA and William Krause from Andreessen Horowitz will join Smartcar’s board of directors.

“We founded Smartcar in 2015 after we became frustrated trying to figure out how to get a mobile app to connect to a vehicle,” said Sahas Katta, co-founder and CEO.

“Today, innovation in the automotive world is accelerating. We’re excited to be enabling both industry incumbents and start-ups to develop new apps and services for cars.

“From car sharing and fleet management, to smart parking and insurance, developers are using the Smartcar platform to pioneer a truly connected automotive world.”

Forest Baskett, general partner at NEA, added: “As the prevalence of software applications for automobiles continues to increase, so does the need for a universal API.

“Smartcar’s solution removes the friction felt by both OEMs and app developers to allow faster integrations between web apps and digital vehicle systems.

“We’re thrilled to partner with the Smartcar team to empower developers across the $50bn connected car services market.”