Motorq, LLC

Motorq, LLC specializes in connected vehicle data solutions, offering fleet managers insights to enhance vehicle management and streamline operations, particularly as the industry transitions to electric vehicles. Motorq, LLC, founded in 2017 in Saratoga, US, provides a Connected Vehicle Data Platform that enables fleet managers to gain insights from vehicle data without physical dongles. The company was co-founded by Arun Rajagopalan, Ashwin Raja, and Vivek Malipatil, with Arun serving as the CEO. In its latest funding round on February 16, 2022, Motorq raised USD 40 mn in a Series B round led by Insight Partners, with participation from Avanta Ventures, First Move Capital, Monta Vista Capital, and Story Ventures, bringing the total amount raised to USD 40 mn and a current valuation of USD 210.

948 mn. Motorq's primary offering is its Connected Vehicle Data Platform, designed to provide fleet managers with comprehensive insights derived from vehicle data without the need for physical dongles. This platform enables users to perform preventive maintenance, track vehicle orders from production to dealership, and manage the transition from internal combustion engine (ICE) vehicles to electric vehicles (EVs). Additionally, the platform facilitates reimbursement for EV drivers even when charging at home and promotes safer driving behaviors through in-vehicle coaching.

Motorq serves a diverse client base that includes industry-leading original equipment manufacturers (OEMs) and fleet managers overseeing combined fleets of over 2 million vehicles. The solutions are applicable in various geographical markets, including North America and Europe, where the demand for efficient fleet management and data-driven decision-making is pivotal. Motorq generates revenue through a subscription-based model, where clients pay for access to its Connected Vehicle Data Platform. This transactional structure emphasizes long-term partnerships, ensuring consistent data flow and support for fleet management operations.

Clients typically enter into agreements that encompass various service tiers, which may include comprehensive data analytics, vehicle tracking, and EV reimbursement features. These services are tailored to meet the needs of businesses managing large vehicle fleets, enabling them to optimize their operations effectively. Specific pricing plans and structures are established based on the scale and requirements of individual client contracts, ensuring that the solutions offered align with their operational goals. In February 2022, Motorq, LLC raised USD 40 mn in Series B funding, which will be utilized for product development and strengthening engineering teams.

The company aims to enhance collaboration with automotive OEMs and establish sales and business development in Europe and Japan. Additionally, the funding will support enhancements to the core Motorq platform for new markets, including insurance, automotive rental, and dealer services.