Spanish startup Grupo Next has closed a new round of financing worth €1million with Fides Capital, the PMovil Group (Argentina / Brazil), Atresmedia, and Business Angels, led by Andres Echecopar, as participants.
Grupo Next has developed a platform for connected cars (“smart cars”) that leverages data to monetize safety and maintenance needs related to the vehicle and its owner. Drivers can access geolocation and safety data, perform a complete, remote diagnosis of the car’s condition, and even receive timely offers for needs as they arise, such as refueling, battery replacement, and tire maintenance. Additionally, the platform provides in-car WiFi for up to five passengers.
“The new financing round will allow us to execute our plan to connect more than one million vehicles next year across Europe, Latin America, and Asia,” says Javier Goikoetxea, founder and CEO of Grupo Next. “Big data allows us to create new, predictive models to make it easier for all the players in the automobile ecosystem to maximize revenues and contain costs — from finance, sales, and rentals to insurers and fuel providers.”