Otonomo’s Connected OEM Data Enables Electric Car Subscription Company to Accelerate Growth and Create New Revenue Streams
Electric Zoo Expands Service Offerings, Improves Customer Experience and Incorporates Additional Safety Features Based on Data-Driven Insights from Otonomo
HERZLIYA, Israel and SAN FRANCISCO, June 21, 2022 (GLOBE NEWSWIRE) -- Otonomo Technologies Ltd. (Nasdaq: OTMO), the platform powering the mobility economy, today announced that Electric Zoo, a pay-as- you-go electric car subscription service, is using Otonomo’s GDPR-compliant Smart Mobility Data Platform to easily manage and track its fleet of electric vehicles (EV). With access to accurate mileage data, Electric Zoo is able to improve operations and explore new business opportunities and subscription models, including implementing flex-pay options and offering low mileage discounts. Using Otonomo’s near real-time GPS data, Electric Zoo can track the location of their vehicles, how many miles each vehicle is being driven, and the distances traveled by individual vehicles or by fleet.
Before deploying Otonomo, Electric Zoo was unable to collect connected vehicle data from its fleet of electric vehicles and was required to install expensive devices on its vehicles to acquire mileage and location data. Electric Zoo needed the ability to track and analyze fleet and vehicle data to improve business decisions, create new revenue streams and accelerate growth. The Otonomo platform offers Electric Zoo an intuitive and easy-to-use solution designed to help the company move their business faster and further with the capacity to quickly and easily scale as the company adds vehicles to its fleet and expands its service offerings.
Otonomo’s Maintenance and Mileage dashboards provide Electric Zoo with a breadth of insights and data visualization capabilities. The Maintenance Dashboard provides a snapshot of each vehicle in the fleet, including fuel and oil levels, brake wear, tire pressure, EV charge status, and more, and maintenance alerts can be created to ensure driver and vehicle safety. Using the Mileage Dashboard, fleet managers can track overall mileage, distances traveled, and more. Geofencing rules can be established to ensure fleet managers receive alerts if a vehicle leaves a designated driving area.
As the company grows, Electric Zoo will use the Otonomo platform to obtain EV data and attributes to provide drivers with an even better experience, including the ability to direct drivers to the closest charging station.
“As car ownership changes and fuel prices continue to rise, electric vehicles are the way forward to a more sustainable future. Since founding Electric Zoo, our goal has been to bring awareness and education around the switch from combustion to electric vehicles,” said Lash Saranna, founder & CEO, Electric Zoo. “We chose Otonomo because, as our fleet continues to grow, we need a partner that can help us scale. The data and insights from Otonomo are directly and positively impacting the future of our company. Additionally, Otonomo’s data privacy and data storage policies ensure the data we’re receiving from our fleet is compliant and ready to be used securely.”
“With Otonomo, Electric Zoo has access to the data they need to precisely understand the exact moment to service their vehicles and when to expand and retire fleet vehicles to enhance the bottom line,” said Anders Truelsen, Chief Revenue Officer at Otonomo. “These data-driven insights eliminate the guesswork for fleet managers and allow them to plan business expansion, prioritize investments, and create new efficiencies based on macro to micro visibility and near real-time intelligence.”
The Otonomo Smart Mobility Data Platform is adaptable to all size fleets from independent operators to national companies and is being used by fleet management operators and key industry players of all sizes across the mobility and transportation ecosystem. Leveraging the insights provided by Otonomo, companies can make data-informed decisions to drive business growth, save money, and inform the overall direction of the organization.
To learn more about the Otonomo Smart Mobility Data Platform, please visit otonomo.io.
Otonomo (NASDAQ: OTMO), the platform powering the mobility economy, is igniting a new generation of mobility experiences and services. With Otonomo, providers in the transportation, mobility, insurance, and automotive industries are finally able to harness mobility data and insights and transform them into strategic assets and market advantages.
Our partners gain access to the broadest, most diverse, range of data from connected vehicles, mobile phones, public transport, EV infrastructure, and MaaS with just one contract and one API. Vehicle and multimodal mobility data is reshaped and enriched to provide deep visibility and actionable insights and empower planning, deployment, and operations.
Architected with privacy and security by design our platform is GDPR, CCPA, and other privacy regulation compliant, ensuring all parties are protected and companies remain privacy compliant across geographies worldwide.
Otonomo has an R&D center in Israel and a presence in the United States and Europe.
More information is available at otonomo.io.
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Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Otonomo the anticipated technological capability of Otonomo, the markets in which Otonomo operates and Otonomo’s projected future financial and operational results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive data marketplace. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Otonomo’s annual report on Form 20-F filed with the SEC on March 31, 2022 and other documents filed by Otonomo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Otonomo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Otonomo gives no assurance that it will achieve its expectations.