GM, Toyota Among Investors in Silicon Valley Telematics Startup

GM, Toyota Among Investors in Silicon Valley Telematics Startup

The startup, Palo Alto, Calif.-based Nauto, has developed an aftermarket data-capture device that detects collisions, monitors risky driving maneuvers and tracks driving behavior in real time.

Telematics startup Nauto said it recently raised $159 million in Series B financing with contributions from SoftBank Group, General Motors, Toyota and others.

Palo Alto, Calif.-based Nauto has developed an aftermarket data-capture device that detects collisions, monitors risky driving maneuvers and tracks driving behavior in real time. The artificial intelligence-powered telematics device can improve fleet safety and inform the development of autonomous vehicles, according to the company.

The latest round of financing, which was led by SoftBank and Greylock Partners, included the venture-capital subsidiaries of GM, Toyota, BMW and Allianz Group.

The money will help Nauto retrofit its telematics device into more vehicles around the world and “support the expansion of the Nauto data platform in autonomous-vehicle research and development across multiple automakers,” the company said in a news release.

“As more Nauto units get deployed and Nauto-enabled vehicles accumulate more miles, the Nauto network becomes more precise, gains an even greater understanding of human driving behavior and provides more valuable data and safety features,” Nauto said. “The resulting insights help improve fleet safety and operations, as well as save lives and reduce liability and expenses. Over time, the Nauto data platform will inform the transition to and coexistence of human-driven and autonomous vehicles.”

SoftBank CEO Masayoshi Son said Nauto’s “increasingly intelligent telematics business” is “generating a highly valuable dataset for autonomous driving, at massive scale.”

“This data will help accelerate the development and adoption of safe, effective self-driving technology,” Son added.

You May Also Like

NABC Announces Winners of Lone Star Changing and Saving Lives Golf Fundraiser

More than 125 players, sponsors and industry members gathered for the second tournament of the NABC season.

The National Auto Body Council (NABC) has announced the winners of the NABC Lone Star Changing and Saving Lives Golf Fundraiser held April 10, 2024 at the Texas Star Golf Course in Dallas. 

More than 125 players, sponsors and industry members gathered for the second tournament of the NABC season. The day featured the presentation of a Recycled Ride to deserving U.S. Army veteran Kijafa Adams prior to the shotgun. In addition, the NABC presented two vehicles the day prior at the PPG Conference to U.S. Army veteran Nathan Burrows and single mother Walnisha Stevenson.  

Crash Champions Acquires Family Motors Auto Body in Bakersfield, Calif.

Crash Champions now operates more than 50 repair centers across Southern California and more than 630 locations across 37 states.

ASE Releases Chairman’s Message

New ASE Chairman Tom Trisdale says 2024 is a year of action for ASE as the challenges of repairing vehicles and the pressures facing technicians have never been greater.

CIF Announces National Coatings & Supplies/Single Source as Repeat Annual Donor

This marks National Coatings & Supplies/Single Source’s fourth consecutive donation at the First Responder tier.

CCG Acquires Square One Systems, Coyote Vision Group

For over 40 years, Square One Systems has delivered effective solutions to collision repairers centered around analytics, collaboration and accountability.

Other Posts

Keene Auto Body: Since 1928

Ensio Piispanen immigrated from Finland to the U.S. and founded Keene Auto Body in 1928.

AASP/NJ Announces Winners of NORTHEAST Show Bodywork Bowl

The competition featured 70 competitors showcasing their skills in welding, painting and estimating.

Consolidator Report

Consolidation news from the week of April 15.

People on the Move

Recent personnel news that has appeared on bodyshopbusiness.com.