Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the automotive sector. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, we are taking a look at 5 promising vehicle data startups.
Heat Map: 5 Top Vehicle Data Startups
For our 5 top picks, we used a data-driven startup scouting approach to identify the most relevant solutions globally. The Global Startup Heat Map below highlights 5 interesting examples out of 250 relevant solutions. Depending on your specific needs, your top picks might look entirely different.
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V2X Network – Autonomous Transaction Platform
As the adoption of autonomous vehicles (AVs) increases, there is a need for mechanisms that allow AVs to transact. These solutions enable driverless vehicles to pay at parking spaces, highway tolls, and gas stations. Vehicle identification numbers (VINs), license plate numbers, and encrypted technologies such as blockchain, enable the verification of vehicle data for autonomous transactions.
V2X Network, a UK-based startup, offers an autonomous transaction platform. The startup’s solution is powered by blockchain and combines geo-networking and caching to enable low latency real-time communication. The digital vehicle identity and the cryptographic car wallet allow vehicles to transact on their own.
Motorq – Vehicle Insurance
Vehicle data, such as the speed or location of a vehicle, during the time of a crash, is quite valuable for insurance companies to process claims. Sensors installed in the vehicle and road infrastructure capture vehicle data that provides insurance companies with actionable insights. This allows insurers to validate and streamline the claim process.
Motorq, a US-based startup, develops a platform for the connected car ecosystem. Motorq’s solution allows insurance companies to validate and analyze vehicle history data on the basis of VINs to facilitate usage-based insurance. The startup also serves fleets, auto dealers, and municipalities.
AutoDAP – Smart Repair & Maintenance
Vehicles often face recurring issues when it comes to their repair and maintenance. Access to vehicle data allows original equipment manufacturers (OEMs) to address particular issues and solve potential problems in their vehicles. Moreover, this also facilitates smart repair & maintenance as data on individual parts provides mechanics with better insights into the cause of the problem.
Netherlands-based AutoDAP offers vehicle data solutions for smart repair & maintenance. The startup assists OEMs in improved automotive part identification for enhanced repair. This allows sellers to identify the parts installed in a particular vehicle by simply entering their VIN. This way, AutoDAP helps parts sellers improve the part selection accuracy.
AlgoDriven – Used Vehicle Marketplace
The used vehicle market is a significant component of the automotive industry, globally. Analysis of vehicle data allows real-time appraisal of the value of used vehicles with respect to the data of other vehicles available in the market. The streamlined transactions benefit both customers and sellers.
The UAE-based startup AlgoDriven develops a vehicle appraisal solution. The solution, called EvalExpert, uses proprietary algorithms for vehicle appraisal, price guidance, and wholesale management. Moreover, it features a web dashboard and integrates with the existing business solutions for easy usability.
Acerta – Automotive Manufacturing
Vehicle data is incredibly informative in the area of automotive manufacturing. For example, data parts that fail frequently provides automotive manufacturers with valuable insights. In turn, this enables design and manufacturing changes that enhance the safety and usability of newer models.
Acerta, a startup based in Canada, uses machine learning to predict product failures in automotive manufacturing. The startup’s solution LinePulse analyzes extensive, anonymized datasets from transmissions, axles, gearboxes, engines, etc. to discover and diagnose potential defects in the manufacturing process. Additionally, LinePulse offers recommendations to improve these processes. AutoPulse, another product from the startup, offers condition monitoring for vehicles in use.
What About The Other 245 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 5 vehicle data startups showcased above are promising examples out of 250 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.
