Connected vehicle company Xapix raises $2M in seed funding led by Speedinvest
Xapix helps mobility companies access, use, and monetize their data more easily
San Francisco-based connected vehicle company Xapix today announced a $2M seed round backed by Speedinvest, who is leading the round, as well as Anthemis and angel investor Felix Staeritz. Xapix is building a data orchestration platform that enables automotive and mobility companies to build digital services and products. The company will use the funding to strengthen its position among automotive OEMs and accelerate its growth in the U.S. market. Andreas Schwarzenbrunner from Speedinvest is joining the board along with Ruth Foxe Blader from Anthemis.
Xapix is gaining a lot of attention among industry executives and technologists because it holds the missing link to “Mobility as a service” business models. Although these automotive manufacturers must design digital service offerings to meet the growing market demand, they do not have sufficient resources to bring their services to market. They need a mobility backend that is capable of running data-related tasks while their teams focus on creating a coherent user experience.
“We believe that the challenges for mobility companies associated with connecting data and working with 3rd parties will continue to rise, primarily driven by a massive growth of diverse data sources. Xapix is solving exactly this pain-point: deploying an easy to use tool that allows clients to orchestrate their data and communicate with their clients through one voice. We are convinced that Christian and Oliver are the right team to tackle this problem given their extensive experience in API management for mobility. So we are more than happy to become part of this journey,” says Andreas Schwarzenbrunner from Speedinvest and Board Member at Xapix.
“We invested in Xapix because the company will have a great impact as autonomous vehicles and fleets hit the roadways at scale. From connecting autonomous vehicles to a variety of services, including insurance, to managing complex fleets, interoperability and API orchestration is essential to an autonomous future—and we believe Xapix will play a vital role in this,” says Ruth Foxe Blader, Managing Director at Anthemis, a leading global fintech investor.
“We have already deployed our technology to orchestrate data from hundreds of thousands of vehicles and sit at the table with giants in the automotive industry like Daimler FleetBoard and BMW,” says Xapix co-founder and CEO Christian Umbach. “It is extremely exciting to build on this great foundation with our investors and bring Xapix to the next level.”
His co-founder and CTO Oliver Thamm adds: “In 2019 we will further expand in the mobility space and start covering adjacent verticals such as Insurtech, another key industry suffering extraordinarily from legacy systems and data silos. We are excited to further optimise our beautiful user interface as a power tool for anyone with Excel skills, not just developers. Our goal is to reduce implementation time for such IT projects by factor 10.”
Founded in 2016 in Berlin, Germany, and headquartered in San Francisco, USA, Xapix has been working on enterprise software facilitating data access, exchange, and monetization for mobility companies. Xapix is set up to serve its customers internationally with these two offices. The company launched its automotive-grade software into production in the summer of 2018.
Xapix is building an orchestration platform for digital mobility services, providing vehicle manufacturers, suppliers, and service providers with ultimate flexibility, speed, and security around data interoperability. This allows mobility companies to scale services more quickly and more securely than ever. Xapix, which started with support from MIT and Techstars and was accelerated by Plug and Play, has secured a license deal with Daimler FleetBoard for its automotive-grade production tool. Startups and leading players such as BMW, Goodyear, and another major car manufacturer have also secured Xapix for further paid proof of concepts. .
Speedinvest is a pan-european brand of venture capital funds with $260M under management that invests in seed stage technology start-ups. The company operates under a focus fund structure in the areas of Fintech, Marketplaces and Deep / Industrial Tech. Besides providing financial investments, the fund actively deploys its network and know-how to support its portfolio companies. Speedinvest’s office in Silicon Valley supports portfolio companies entering the US market. Find out more: www.speedinvest.com.
Anthemis cultivates change in financial services by building, growing, and sustaining businesses committed to improving the world. Our deep understanding of markets and models, passion for emerging technology and spirit of collaboration inspire everything we do. By creating fertile ground for entrepreneurs, institutions, researchers, academics, and visionaries to come together, we believe we can solve the financial services world’s most pressing challenges faster, better and for the benefit of all. Learn more at www.anthemis.com.