Stuttgart-based Azowo, a mobility cloud provider, announced on Wednesday that it has closed €10M in a Series A round of funding led by AEW Energie AG. Start-up BW Innovation Fonds, MBG Baden Württemberg, and Project A Ventures also participated in the round.
The company says the capital will be used for international expansion in Europe and the US, and to support product innovation, sales, and marketing efforts.
“We are uniquely positioned by offering a complete end-to-end mobility solution that enables our clients to build new game-changing mobility services for public and corporate use cases at a very high-quality level,” says Albert Pescheck, CEO and co-founder of AZOWO.
What does Azowo solve?
To date, there has been a lack of efficiency in exchanging vehicle data across different systems – making it difficult for smart mobility to be adopted on a large scale. The transformation towards electric vehicles requires cost-effective data and software systems that can guarantee business continuity and growth.
And here’s where Azowo comes into play!
Azowo: What you need to know
Founded in 2016, Azowo powers the transition to electric vehicles and connected mobility by combining real-time vehicle data and a highly modular software solution.
The German company does this by connecting mobility, vehicle, and energy data, which is often scattered across multiple non-standardized sources. It makes it easier for people to see the big picture and make decisions accordingly.
The company’s platform enables major automotive OEMs to connect directly with over 100 mobility service APIs. This allows for shared, connected, electric, and autonomous business processes that are much more efficient and sustainable across industries such as real estate, aerospace, the public sector, construction, energy, financial services, and manufacturing.
The company’s clients include Munich Airport, Wacker Neuson, SwissEcar, and Sparkasse.
“Mobility-as-a-service has huge growth potential. AZOWO has matured technology to offer integrated mobility solutions to a large variety of customer groups. For instance, AZOWO already successfully provides the platform for Swiss E-Car, a national e-car sharing service of which AEW is a co-founder,” says Marc Ritter, CEO of AEW Energie AG.