Startup Fleetonomy raises $3m in seed round

fund raising  image: Shutterstock

The round in the Israeli fleet management solutions company was led by Vertex Ventures, Kardan Ventures, and VectoIQ.

Israeli startup Fleetonomy, which develops artificial intelligence (AI)-based vehicle fleet management solutions, today announced a $3 million seed round led by Vertex Ventures, Kardan Ventures, and VectoIQ. As part of the round, Fleetonomy added two former General Motors executives to its list of consultants. The company's vehicle fleet management platform combines machine learning and AI algorithms in order to provide vehicle managers with cloud-based analysis of data and insights that will facilitate optimization of inventory management, maintenance, and keeping track of customers' needs.

According to Fleetonomy's announcement, its system is already deployed in the US, the UK, and Germany. The target market for the technology developed by the company consists of auto manufacturers, car rental companies, and operators of smart transportation, such as shared transportation, rise-hailing and on-demand car rentals, vehicle sharing, etc. Fleetonomy was founded by CEO Israel Duanis, a former senior executive at Check Point Software Technologies Ltd. (Nasdaq: CHKP), and CTO Lior Gerenstein.

Published by Globes [online], Israel business news - www.globes-online.com - on September 6, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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fund raising  image: Shutterstock
fund raising image: Shutterstock
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