Cloud service provider for connected car companies CloudCar has secured $15M worth of funding from UK based manufacturing giant Jaguar Land Rover.
Having already raised $11.5 million when it was still a modest start-up in 2012, this latest inflow of funds brings CloudCar’s total outside investment past the $25 million mark.
Since it was acquired from Ford in 2008, Jaguar Land Rover last year launched a new independent venture called InMotion, with a special emphasis on steering the company towards the automotive internet age. Partnering with CloudCar helps the OEM fulfil its goal.
In addition to investing, Jaguar Land Rover has said it will adopt CloudCar’s platform for its first all-electric vehicle, the Jaguar I-Pace, which was announced last year.
“This investment is integral to Jaguar Land Rover’s vehicle technology programme: but the programme also presents an invaluable opportunity for other automotive manufacturers to get involved”, said Hanno Kirner, Jaguar Land Rover’s executive director of corporate strategy in a statement.
