January 24, 2023
Sheeva.AI has closed its series A funding round with $9.25 million for its technology to automate driver experiences and services.
The funding round was led by strategic investors Reynolds and Reynolds Co., with additional funding from Poppe + Potthoff Capital GmbH and Pegasus Tech Ventures.
Sheeva.AI’s technology allows drivers to pay for and receive services, such as EV charging, curbside pickup and refueling, all without leaving the car.
The tech harnesses geolocation to track and monitor a driver’s location, identifying a specific gas pump, charging point or parking spot to connect the desired service to the correct vehicle. Payments are then made via the in-vehicle infotainment screen or a connected mobile app.
“This investment shows the same level of belief and faith that the entire Sheeva.AI team has in the future of in-vehicle commerce and payments,” said Evgeny Klochikhin, Sheeva.AI CEO. “As OEMs, energy marketers and retailers of all kinds look to the possibilities for new revenue streams and better customer experiences via in-car transactions.”
Money from the latest funding round will be used to expand the company’s production team and market standing, as well as add new services partners across the fueling, EV charging, parking, tolling and curbside retail sectors in the U.S., India, Europe, and Japan.
“Those first transactions are happening now, and we hope we will be in millions of cars across the U.S., Europe, India, Japan, and wider Asia in the coming years,” Klochikhin said.
“Like the Sheeva.AI team, we’re big believers in the in-vehicle commerce space,” said Sidney Haider, Reynolds and Reynolds senior vice president. “Our dealer and automotive OEM network sees the car as a new digital platform that will be as revolutionary as the smartphone was in e-commerce.”
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