Azowo raises ten million euros
Marius Ochs
| 03.11.2022
The Stuttgart-based start-up thus successfully closed its Series A financing round.
In its Series A financing round, Stuttgart-based start-up Azowo raised ten million euros. The investors include AEW Energie AG, MBG Baden-Württemberg, Start-up BW Innovation Fonds, Chancenkapital BC and Project A Ventures. The company plans to use the new capital to expand in Europe and the US and improve product innovation, sales and marketing.
Founded in 2016, the startup offers technology that processes mobility and energy data from vehicles in real time and transfers 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 electric mobility because we offer a 2-in-1 vehicle data and software solution," says CEO Albert Pescheck with conviction. Azowo's technology has so far been used at Munich Airport, Sparkassen and Swiss E-Car, among others. Areas of application include car sharing and fee management. According to the company, a total of 45 million vehicles are already equipped with it.
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