Technology that uses the vehicle itself as a payment tool without a credit card – Attracting $5 million in investment
Imagine cars scheduling and paying for their own services.
The vehicle itself becomes a payment method without using a credit card, and the necessary financial process is performed by autonomously accessing the bank payment network without driver intervention.
Machine banking directly related to finance such as car sharing and insurance by generating digital vehicle fingerprints using various sensor data of the vehicle.
Car IQ
Car IQ is a payment platform for cars that enables autonomous validation and payment for their services removing the need for credit cards in vehicle service and payment workflows. Car IQ’s dynamic vehicle identity management capabilities enable data governance at the vehicle level putting the trust with the car and eliminating vehicle expense fraud. The breakthrough technology leverages the complex sensor data present in every car to create a unique fingerprint that allows cars to connect directly to physical infrastructures, mobility platforms and financial institutions. With this unique id, and the ability to verify service, cars are able to schedule appointments and pay for services rendered autonomously, eliminating the need for human.
General Information
- Headquarters : San Francisco, California
- Founders : Sterling Pratz
- Categories : Automotive, Payment Platform, Machine Banking
- Founded : 2018
- Contact : information@cariq.xyz
Funding
- Investors : Alpana Ventures, Avanta Ventures, Citi Ventures, Plug & Play Mexico, Quest Venture Partners, Spike Ventures
- Funding Rounds (4) - $6.3M
- Jun 25, 2019 Series A / $5M
- Sep 27, 2018 Convertible Note
- Nov 1, 2017 Seed Round / $250K
- Feb 1, 2017 Seed Round / $1M
Source: Car IQ
👉• Web: https://cariq.xyz/
👉• Video: MyCarIQ - YouTube
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