Otonomo Technologies Ltd. (Nasdaq: OTMO), a leading mobility
intelligence platform provider, today announced it has joined
forces with NXP® Semiconductors, to accelerate the time-to-value
for the data generated at the vehicle edge. The partnership ensures
compatibility and business continuity between NXP’s S32G vehicle
network processors at the vehicle edge and the Otonomo Mobility
Intelligence Platform in the cloud, to offer a seamless, secure
infrastructure for transferring data from vehicle to cloud. It also
enables Otonomo to offer new differentiated and connected vehicle
data and mobility insights that can accelerate the time-to-value
for secure connected vehicle applications, while breaking down
long-standing silos in the automotive industry.
“We're excited to work with Otonomo to deliver a secure,
end-to-end solution for processing connected vehicle data,” said
Brian Carlson, Global Marketing Director for Vehicle
Control and Networking Solutions, NXP. “Our partnership
enables us to securely unlock more value by processing data streams
at the edge in real-time and reducing the data transmission cost,
while enabling new and expanded business opportunities for
stakeholders across the connected vehicle ecosystem.”
Extracting Value from Connected Vehicle Data at the
Edge
Otonomo vehicle data and mobility insights are utilized by
businesses, fleets and smart cities for a wide variety of use
cases, including, but not limited to fleet management, insurance,
in-vehicle management, emergency services, mapping, electric
vehicle (EV) management, subscription-based services, parking,
predictive maintenance, in-vehicle services, traffic management and
smart cities.
NXP’s state-of-the-art vehicle processing platforms generate
massive amounts of data that can power strategic applications
ranging from predictive maintenance to driver safety and advanced
traffic management. Additionally, vehicle data can be mined for
data insights that enable new opportunities and use cases. The
combination of NXP’s in-vehicle hardware and software and the
cloud-based Otonomo Mobility Intelligence Platform propels these
innovations forward by introducing the ability to:
- Extend Otonomo inside the vehicle to
provide in-vehicle data processing and synthetic sensor data to its
data marketplace
- Identify additional data streams that can be used to lower the
cost of data transmission, improve existing service delivery,
create additional value-added services, and prioritize current and
future vehicle data use cases
- Identify new, value-added, edge vehicle data streams that are
not readily available and collaborate with OEMs to make them
available using extended Otonomo APIs
- Provide end-to-end customization
opportunities for OEMs and fleet operators to meet their unique
vehicle data needs, cut costs, reduce storage needs, drive security
and privacy, and provide premium offerings for customized data
access
“Automakers are under pressure to move faster to deliver new and
better-connected cars, and edge computing helps them accomplish
that,” said Ben Volkow, CEO and Co-founder,
Otonomo. “Our collaboration with NXP ensures data captured
at the vehicle edge is aligned with the driver needs and adjusted
dynamically based on dynamic conditions. As a result, the edge
computing data is application-ready; thus enabling the edge data to
be more efficient and aligned with privacy and security needs.”
About NXP Vehicle Network Processors
NXP S32G vehicle network processors support the needs of new
vehicle architectures: service-oriented gateways, vehicle
computers, domain controllers, zonal processors, safety processors
and more. The processors are helping to transform OEMs from
carmakers into vehicle data-driven service providers with expanded
business opportunities.
About Otonomo
Otonomo (Nasdaq: OTMO) fuels a data ecosystem of OEMs, fleets
and more than 100 service providers spanning the transportation,
mobility and automotive industries. Our platform securely ingests
more than 4 billion data points per day globally from over 40
million vehicles licensed on the platform and massive amounts of
mobility demand data from multimodal sources, then reshapes and
enriches it, to accelerate time to market for new services that
improve the mobility and transportation experience. We provide
deeper visibility and actionable insights to empower strategic
data-driven decisions – taking the guesswork out of mobility and
transportation planning, deployment and operations. Privacy by
design and neutrality are at the core of our platform, which
enables GDPR, CCPA, and other privacy-regulation-compliant
solutions using both personal and aggregate data. Use cases include
emergency services, mapping, traffic management, EV management,
subscription-based services, micro-mobility, parking, predictive
maintenance, insurance, media, in-vehicle services and dozens of
smart city solutions. 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 StatementsThis 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 final
prospectus filed with the SEC on November 3, 2021 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.
For press inquiries, please
contact:OtonomoJodi Joseph AsiagHead of
Content and Communicationsjodija@otonomo.io
For investment inquiries, please
contact:MS- IR for OtonomoMiri
Segalmsegal@ms-ir.com
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