Stuttgart, Germany-based enterprise cloud provider for connected mobility, Azowo, raised EUR 10 million in recent funding. The company closed the Series A round on November 2, 2022. AEW Energie AG led the financing for the firm. Start-up BW Innovation Fonds, MBG Baden Württemberg and Project A Ventures also joined in the funding.
Purpose of financing for Azowo
With the latest proceeds from the Series A funding, the company intends to fund international expansion. It seeks development across regions such as Europe and the US.
Meanwhile, it seeks to support product innovation. Further, it has plans to boost sales and marketing efforts.
AZOWO provides enterprises with a fast and effective platform to build the next generation of innovative e-mobility applications. The platform solves the pains of electric vehicle transition and multi-non-standardized OEM data sources, thus fixing the broken link between mobility, vehicle as well as energy data.
What the company’s official has to say
Speaking on the recent development, Albert Pescheck, CEO and Co-Founder of Azowo, said, “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.”
What the lead investor has to say
In addition, Marc Ritter, CEO of AEW Energie AG, further said, “Mobility-as-a-service has huge growth potential. AZOWO has a matured technology in place 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.”
About the company
In 2016, Founders Albert Pescheck, Andreas Kopf, Patric Schneider, and Peter Jegutzki launched the company. The Germany-based company operates as a mobility cloud provider. Azowo’s software platform connects real-time vehicle data to deliver better mobility services. Renowned industry players such as Munich Airport, Wacker Neuson, SwissEcar and Sparkasse use the company’s products. Azowo aims to revolutionize mobility transfromation by better connecting mobility, automotive OEM and energy data into one platform. The Azowo platform directly connects major automotive OEMs with more than 100 mobility service APIs. It enables shared, connected, electric and autonomous business processes, thereby maximizing efficiency and sustainability across all industries such as real estate, aerospace, public sector, construction, energy, financial services and manufacturing.
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