HERZLIYA, Israel and SAN FRANCISCO, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Otonomo Technologies Ltd. (Nasdaq: OTMO), the platform powering the mobility economy, today announced that Rekor Systems, Inc., (Nasdaq: REKR) and Otonomo are expanding their existing relationship with a multi-year contract supporting the mission of improving road and driver safety. Rekor, a global AI technology company that provides data-driven insights to build safer, smarter, and more efficient cities around the world, is deeply integrating the multi-layered connected vehicle data available via the Otonomo Smart Mobility Data Platform into its Roadway Monitoring and Response Platform to enhance the accuracy and granularity of the Rekor incident identification algorithm, making it possible to respond to traffic incidents faster, potentially saving lives. With the Smart Mobility Data Platform, Rekor supports customers across departments of transportation, city traffic management centers, and regional transportation centers in St. Louis, Missouri, Gothenberg, Sweden, and the broader bay area of San Francisco, California.
“Ingesting connected vehicle data through Otonomo’s Smart Mobility Data Platform into our Rekor One Traffic Management solution further expands the breadth and depth of our global roadway coverage and accuracy of real-time and predictive traffic analytics to enable customers to achieve safer roads and drivers, and to gain the highest level of roadway intelligence,” said David Desharnais, President of Rekor. “This expanded partnership accelerates the future of mobility for our customers today and is aligned with our vision of intelligent infrastructure, including autonomous vehicles and vehicle-to-everything (V2X) interactions.”
“Otonomo is helping customers unlock access to road condition detection, which can be used to alert drivers of upcoming dangerous obstacles and speed up police and insurance investigations at accident sites—all while reducing the number of traffic fatalities in the process. The breadth of insights available through the Smart Mobility Data Platform extends Rekor’s roadside and emergency response capabilities, including in rural areas that have fewer traffic sensors and cameras,” said Anders Truelsen, Chief Revenue Officer of Otonomo. “As a leading innovator in the mobility space, we’re excited to grow our relationship over the coming years with Rekor to deliver the roadway intelligence of the future.”
The Otonomo Smart Mobility Data Platform provides easy access to a range of proprietary and patented mobility data solutions that power customers products and services—from curated, high quality, multi-layered connected vehicle data, standardized and blurred to remove identifiers; to VIN-specific data compliant with data privacy regulations; and ready-to-use insights generated with proprietary machine learning and AI. Customers have used this rich connected vehicle data to:
- Gain an unprecedented view of traffic behaviors globally to improve real-time traffic flows with an accurate picture of what’s happening across road systems.
- Allow smart cities to manage emissions, intelligently control idling areas, optimize parking and public transport, and create data-driven simulations for short- and long-term planning.
- Manage road safety through near-real-time and historical data on accidents, hard braking, or speed, in addition to weather events and road friction to identify hazardous sections of road and plan for necessary improvements.
- Support infrastructure and transportation developments with vehicle count, average speed, and origin/destination data to determine site analysis and demand planning.
To learn more about the Otonomo Smart Mobility Data Platform, please visit otonomo.io.
About Otonomo
Otonomo (NASDAQ: OTMO), the platform powering the mobility economy, is igniting a new generation of mobility experiences and services. With Otonomo, providers in the transportation, mobility, insurance, and automotive industries are finally able to harness mobility data and insights and transform them into strategic assets and market advantages.
Our partners gain access to the broadest, most diverse, range of data from connected vehicles, mobile phones, public transport, EV infrastructure, and MaaS with just one contract and one API. Vehicle and multimodal mobility data is reshaped and enriched to provide deep visibility and actionable insights and empower planning, deployment, and operations.
Architected with privacy and security by design our platform is GDPR, CCPA, and other privacy regulation compliant, ensuring all parties are protected and companies remain privacy compliant across geographies worldwide.
Otonomo has an R&D center in Israel and a presence in the United States and Europe.
More information is available at otonomo.io.
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About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a trusted global authority on intelligent infrastructure providing innovative solutions that drive the world to be safer, smarter, and more efficient. As a provider of comprehensive, continuous, and real-time roadway intelligence, Rekor leverages AI, machine learning, and holistic data to support the intelligent infrastructure that is essential for smart mobility. With its disruptive technology, the Company delivers integrated solutions, actionable insights, and predictions that increase roadway safety. To learn more please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, Twitter, and Facebook.
For media inquiries, please contact:
Juliet McGinnis
Senior Director of Communications, Otonomo
press@otonomo.io
For investment inquiries, please contact:
MS- IR for Otonomo
Miri Segal
msegal@ms-ir.com
Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Otonomo, the anticipated technological capability of Otonomo, the anticipated benefits of the acquisition of Neura, the amount and timing of synergies from the acquisition of Neura, the markets in which Otonomo operates and Otonomo’s projected future financial and operational results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, the ability to successfully integrate Neura, and potential changes and developments in the highly competitive data marketplace. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Otonomo’s annual report on Form 20-F filed with the SEC on March 31, 2022 and other documents filed by Otonomo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Otonomo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Otonomo gives no assurance that it will achieve its expectations.
