Nersingen, Germany – Wednesday, August 7th, 2024 – DC Connected Car GmbH, a trailblazer in AI-driven remote vehicle diagnostics, proudly announces the successful closure of a €2.1 million seed funding round. Led by Insurtech-fund VENPACE, this round includes significant contributions from Borusan Ventures, Atlas Ventures, Network.VC, and existing investors like APX, Bloomhaus Ventures and Business Angels. This pivotal investment will accelerate DC Connected Car's mission to revolutionize the $500 billion automotive aftersales market with its cutting-edge virtual technician platform.
DC Connected Car's innovative virtual technician platform addresses the critical shortage of skilled labor in the automotive industry. Their fusion of remote diagnostics and advanced artificial intelligence sets a new benchmark in the automotive aftermarket sector. Unlike conventional diagnostic systems, their AI-driven solution delivers automated, intelligent insights into vehicle health and performance, providing real-time problem-solution recommendations. This approach not only minimizes the need for physical inspections and repairs but also seamlessly integrates into customers' lives by offering remote support. By combining state-of-the-art AI with comprehensive remote diagnostics, DC Connected Car redefines vehicle maintenance and customer convenience, solidifying its position as a standout player in the automotive industry, highlighted by its partnerships with Major OEMs.
"AI has the potential to revolutionize various automotive areas that Borusan operates in, such as aftersales, fleets, and used car business," said Timo Kilp, Head of Borusan Ventures. "We believe DC Connected's AI-driven digital technician holds significant promise to accelerate the diagnosis and repair of vehicle issues, further enhancing our customer service."
Not only a contender in the automotive repair sector, DC Connected Car is driving innovations in the insurance industry as well. Their partnership with Real Garant Versicherung AG marks a new era of digitalization, sustainable mobility, and future-orientated service design.
"With the cooperation with DC Connected Car GmbH, we expect to significantly contribute to environmentally friendly mobility solutions and to drive forward digitalization in the automotive sector by providing digital solutions for warranty and service products”, explains Suzana Janny, Head of Market Proposition at Real Garant Versicherung AG.
Funding Injection to Accelerate Market Expansion and Product Excellence
This fresh injection of capital will fuel DC Connected Car's international expansion and the development of advanced diagnostic tools for roadside assistance, warranty, and repair. The company has seamlessly integrated and digitized expertise across various automotive departments, breaking down silos and enhancing overall efficiency.
About DC Connected Car GmbH
Founded in 2020 in an automotive workshop in Leibi near Ulm, Germany, DC Connected Car offers an all-in-one solution that represents the virtual vehicle technician of the future. This platform addresses the complexities of modern vehicle generations and the skilled labor shortage by enabling automated and intelligent diagnostic and repair processes.
"What excites us most about DC Connected is the wide range of possible applications for their virtual assistant in the mobility ecosystem. Insurers especially have a high interest in elevating their customer experience by digitizing roadside assistance services. In addition, the team has already impressively demonstrated that it has been able to win well-known B2B customers and OEMs as partners," said Tizian Hoppen of VENPACE.
The team behind DC Connected Car is composed of experts with deep industry knowledge and extensive experience. Dennis Christ, an expert in automotive technology and a certified appraiser, provides precise and reliable diagnostic procedures. Ralf Schollenberger leverages his extensive network and expertise in insurance and the aftermarket to forge strategic partnerships. Willian Servigna, specializing in artificial intelligence and software development, ensures that DC Connected Car's solutions remain at the forefront of technology.
Media contact: Emma Klawitter
E-mail: emma.klawitter@dc-connected.de
About VENPACE - VENPACE is a leading investor from the insurance space, guiding startups with unique expertise to sustainably scale innovative solutions. Together with partners throughout the DACH region, they tackle the insurance industry’s challenges head-on, developing and establishing innovative business models.
About BORUSAN Ventures Borusan Ventures is the corporate venture capital arm of Borusan Group, a prominent industrial group in the U.S., Europe and CIS region. Headquartered in Silicon Valley, Borusan Ventures invests in early-stage startups in the US and Europe, focusing on mobility, supply chain and logistics, energy and climate, enterprise, and industrial sectors.
About ATLAS Ventures - Atlas Ventures is a UK-based industrial tech fund focussed on investing in seed and late seed stage opportunities in Developed European markets, with a primary focus on innovative B2B solutions targeting industrial manufacturing, energy and climate, mobility, supply chain and logistics sectors.
For more information, visit https://www.dc-connected.de/en.
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