Digital Infrastructure – the publisher of DIMO Mobile and a core developer of the DIMO network – recently announced a $11.5 million Series A investment led by CoinFund to bring data-driven savings, rewards, and peace of mind to drivers and fleet owners around the globe.
The company historically made open source contributions to the DIMO protocol and built the most popular apps and integrations on the open network. And Digital Infrastructure will continue to upgrade DIMO Mobile, build direct integrations with automakers, and develop hardware like the DIMO AutoPi and DIMO Macaron devices.
The rapidly expanding DIMO network – which grew 900%, from 3,000 to 33,000+ cars last year – is a leader in a new category of blockchain applications that use smart contracts, decentralized data storage, and developer-friendly tooling to help deliver real-world benefits to consumers and businesses. And this design allows users to own their data and put it to work with apps like DIMO Mobile – all without compromising on privacy or security.
Cars have been getting smarter, but their usefulness is limited by walled garden app ecosystems controlled by automakers. And now automakers use their positioning to compel drivers and fleet owners to pay subscription fees for connectivity or like heated seats, force users to their dealer networks, and violate consumer privacy, causing them to opt out of connected vehicle technology altogether.
As an open connected vehicle protocol, DIMO makes it easier for a developer anywhere in the world to launch apps and services that integrate with any car on the network. Companies like Digital Infrastructure use this foundation to make it easier for consumers to connect, collect their own data, and find better prices with maintenance, fuel, insurance, and fleet services providers that use real time data from DIMO to deliver a smoother experience.
DIMO Mobile made it easier for any driver to get closer to the truth about their car: with a direct connection to their automaker’s existing connected vehicle service, or via a DIMO hardware device that plugs in easily to the standard OBD port on any car. And the easy-to-use app makes it simple for drivers to onboard a vehicle and begin privately collecting data on fuel, location, maintenance, and check engine lights. Users are able to opt-in to anonymized data sharing and earn rewards as data products are monetized by companies like CoverageCritic, and save time and earn additional rewards using a growing ecosystem of integrations with companies like RepairPal, Marble, and Bluedot.
The recent unveiling of the DIMO Macaron plug-in device marks a major leap in cost-effective automotive connectivity. As the first OBD2 device using the Helium IoT network, the Macaron offers sophisticated vehicle intelligence and makes the broader ecosystem of applications accessible to every driver with three years of connectivity included – all for $99.
DIMO utilizes smart contracts to register vehicles, manage data sharing permissions, and distribute onchain reward tokens, which creates a transparent and user-owned network with positive feedback loops. And this system also allows developers to engage directly with users without compromising their privacy or security, only accessing the data they need to deliver services.
When consumers and fleets on DIMO connect to the network and transact with service providers they earn DIMO tokens that could be spent like an airline reward point, and these tokens are also used to govern the network as a whole. In the first year drivers and fleets traveled over 220 million miles on the network in 1,300 different vehicle models, and averaged annualized savings and rewards of more than $1,250 for connecting and transacting on the network — an amount Digital Infrastructure Inc. aims to help increase as more services are added.
The Series A funding round was led by CoinFund, one of the world’s first cryptonative investment firms, and includes Slow Ventures, Consensys Mesh, Borderless Capital, TABLE Management (Bill Ackman), Fmr. General Motors CEO Rick Wagoner, and other existing investors.
KEY QUOTES:
“There are 1.4 billion cars on the road — that’s $30 trillion worth of assets, 30% of carbon emissions, and the largest expense for many consumers and small businesses. Today these vehicles are stuck in the ‘flip-phone’ era of connectivity — relying on fragmented solutions that are designed to solve problems for automakers, not drivers or fleets.
“DIMO Mobile is now modernizing and curating the consumer auto ownership experience for every car. Our goal is to generate savings and value from one of the most expensive consumer assets, and share the benefits with every driver and fleet. There are still major inefficiencies in maintenance, insurance, vehicle sales and financing markets, and an open network like DIMO is the best way to solve these problems.”
— Andy Chatham, CEO of Digital Infrastructure
“DIMO Mobile’s approach to automotive innovation, coupled with the remarkable enthusiasm it has generated with early adopters, establishes a groundbreaking precedent for how web3 applications can deliver tangible real-world advantages. Their commitment to transparency and empowering drivers with ownership of their vehicle data goes beyond just enhancing consumer value; it serves as the foundation for creating a generational platform-based enterprise.”
— Alex Felix, Co-Founder and Chief Investment Officer of CoinFund
