PxPixel
Comcast Ventures Backs Connected Car Startup - Broadcasting & Cable

Comcast Ventures Backs Connected Car Startup

Unit joined Automatic Labs' $24 million ‘B’ round
Author:
Publish date:
comcast4qpro.jpg

Comcast Ventures, the V.C. arm of Comcast, was one of the companies that participated in a $24 million “B” round in Automatic Labs, a startup that has developed a connected car platform.

Comcast Ventures did not specify its investment. Automatic Labs, which has raised about $32 million so far, said the B round also included participation from an investment subsidiary of USAA (a top insurance and financial services provider for military families), CDK Global, along with existing investors Y Combinator, RPM Ventures, Anthemis Group, Amicus Capital, as well as several angel investors.

San Francisco-based Automatic Labs pairs an app with an in-car device that can help drivers diagnose engine trouble, detect accidents and send emergency responses.  According to the company, its adapter plugs into the standard diagnostics port hidden under the dash in most cars since 1996. When paired with that device, Automatic Labs’ app displays useful information about the user’s car and driving habits.

For the full story go to Multichannel.com.

Related