Drivemode, a San Francisco, CA-based mobile automotive technology company, raised $6.5m in series A funding.
The round was led by Panasonic Corporation, with participation from Miyako Capital, Mitsui Sumitomo Insurance Venture Capital, Innovative Venture Fund Investment L.P. In conjunction with the funding, Managing Director of Miyako Capital Sunny Sugaya joined Drivemode’s Board of Directors.
The company intends to use the funds to accelerate new product development and expand their global team.
Led by CEO Yo Koga, Drivemode is an Android app serving as a realistic solution to distracted driving by providing a safe platform for smartphone use, accessing music, navigation, calls, texts and more.
With active users in over 180 countries and more than one million app downloads, the company is now also focused on increasing partnerships with both content and service providers to deliver new functions such as parking reservations and roadside assistance to drivers, as well as automakers.
FinSMEs
23/03/2017