The investment comes nearly four years after the Series A round of $10 million led by New Enterprise Associates and raises the API startup’s total VC funding to $36 million.
Developers can use Smartcar’s API platform to build apps that help people find better insurance rates or share their car’s location with their near ones or help save money on charging a car. One of Smartcar’s clients is car sharing marketplace Turo, which uses its APIs to locate and unlock vehicles for guests from the Turo app.
Brought by an entrepreneur father in a tech household located in the Silicon Valley, the Katta brothers have identified a key problem in the mobility industry: inequality. “It's incredibly expensive to purchase a car, to maintain a car or to get it repaired and to insure it,” the Smartcar CEO says. Hardware is not the solution, he explains. It’s “software developers making apps available that solve these problems with innovative solutions.
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