Azowo raises ten million euros
The Stuttgart-based start-up successfully closed its Series A financing round.
The Stuttgart-based start-up Azowo raised ten million euros in its Series A financing round. The investors include AEW Energie AG, MBG Baden-Württemberg, the Start-up BW Innovation Fund, Chancenkapital BC and Project A Ventures. The company intends to use the new capital to expand in Europe and the USA and improve product innovation, sales and marketing.
Founded in 2016, the start-up offers a technology that processes mobility and energy data from vehicles in real time and converts the networked vehicle data into modular software-as-a-service applications. This technology is particularly in demand for electric vehicles.
"We are uniquely positioned for society's transition to electromobility as we offer a 2-in-1 vehicle data and software solution," says CEO Albert Pescheck with conviction. Azowo's technology is currently being used at Munich Airport, the savings banks and Swiss E-Car, among others. Areas of application include car sharing and charging management. According to the company, a total of 45 million vehicles are already equipped with it.
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