platform

Automotive Lender Kuwy Launches Car Sale Platform

By Michael J. Moody 5 months ago

Indian automotive lending startup Kuwy has launched a Lending-as-a-Service (LaaS) platform to let customers purchase new and used cars.

“KuwyLaaS will jump start the journey of online car retailing in India,” Kuwy CEO and co-founder B. Ganesh Kumar told India’s Free Press Journal Thursday (Feb. 3).

“The technology innovation in the KuwyLaaS will not only eliminate all the challenges associated with online car sales today, but also provide deeper insights that will enable the completion of online transaction at the point of search by providing a better buyer experience,” he continued.

The platform lets car makers, dealers, lenders and car aggregator platforms offer digital sales and automated financing options to customers, per the report.

“All of these, I believe, makes KuwyLaaS a much-needed technology that will not only strengthen the overall ecosystem of the car sales segment in India, but also put the country on par with the technology innovations

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Toyota to launch its own automotive software platform by 2025

By Michael J. Moody 6 months ago

© Reuters. FILE PHOTO: The Toyota logo is seen at a booth during a media day for the Auto Shanghai show in Shanghai, China, April 19, 2021. REUTERS/Aly Song/File Photo

(Reuters) – Japanese automaker Toyota Motor Corp is planning to launch its own operating system, which would be capable of handling advanced operations such as autonomous driving, for its vehicles by 2025, reported on Monday.

Software is playing an increasing role in vehicles, from managing electric motors and batteries to supporting functions such as autonomous driving, entertainment and navigation.

Toyota’s automotive software platform Arene will compete with German rivals, Volkswagen (DE:) AG and Daimler AG (DE:), with Volkswagen working on its ‘VW.OS’ software and Daimler planning to roll out its own ‘Mercedes-Benz Operating System’ in its cars by 2024.

The Japanese carmaker aims to put the operating system in its own vehicles by 2025, with plans to make it available

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Intelligent Automotive Software Platform Company Eatron Raises $11M in Series-A funding to accelerate its global growth

By Michael J. Moody 8 months ago

Published: Nov. 19, 2021 at 5:06 AM CST|Updated: 20 minutes ago

WARWICK, England, Nov. 19, 2021 /PRNewswire/ — Eatron®, a fast-growing scale-up with its unique ‘intelligent automotive software‘ platform for the edge and the cloud announced that it raised $11M in its Series-A round led by MMC Ventures with participation from Aster Capital and Vinfast.

Eatron®, a fast-growing scale-up with its unique ‘intelligent automotive software’ platform for...
Eatron®, a fast-growing scale-up with its unique ‘intelligent automotive software’ platform for the edge and the cloud, announced that it raised $11M in its Series-A round led by MMC Ventures with participation from Aster Capital and Vinfast. Eatron, which is headquartered in the UK with a world-class R&D centre in Istanbul, has developed a unique software platform which is driving significant innovation in the continuous optimization of performance, efficiency and safety of software-defined electric vehicles.

Eatron has a long-standing collaboration in different projects with Vinfast to explore and accelerate deployment

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CARS Closes Acquisition of CreditIQ Automotive Fintech Platform, Enabling Instant Financing for Consumers, Dealers And Lenders

By Michael J. Moody 8 months ago

Published: Nov. 9, 2021 at 5:30 AM MST|Updated: 9 hours ago

CHICAGO, Nov. 9, 2021 /PRNewswire/ — Cars.com Inc. (NYSE: CARS) (“CARS” or the “Company”), a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions, has closed the acquisition of CreditIQ, announced last week. CreditIQ is a cutting-edge automotive fintech platform that provides instant online loan screening and approvals to facilitate online car buying.

(PRNewsfoto/Cars.com Inc.)
(PRNewsfoto/Cars.com Inc.)

Cars.com paid $30 million at the closing on November 5, 2021, which was funded using cash on hand. There may be future payments of up to an additional $50 million in performance-based cash consideration to be earned over the next three years.

“The acquisition of CreditIQ technology facilitates CARS’ entry into the rapidly-growing, multi-billion dollar Auto Finance market, expanding our TAM beyond the $35 billion Auto Advertising and Dealer Technology markets we operate in

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