Crunching Car Data for Cash: An Israeli Startup Takes on Google - Bloomberg

Driving data innovation

"Every hour, a modern car processes about 25 gigabytes of information — the equivalent of about seven full-length high-definition movies — on everything from engine temperature and tire pressure to what’s playing on the radio. For automakers, the question is how to turn that into revenue. An Israeli startup claims to have the answer.

Otonomo, which announced $3 million in funding from NTT Docomo Ventures Inc. on Tuesday, has spent the past three years figuring out how to collect, package and sell such data to insurers, retailers, city planners and others willing to pay for it. In return, it takes a percentage of sales — similar to how Apple Inc. and Google operate their app stores. More than 2 million cars are already on Otonomo’s platform, a number that it says will reach 5 million by year-end."

Crunching Car Data for Cash: An Israeli Startup Takes on Google - Bloomberg