GoFar, an IoT tech startup, as per a recent press release statement, raised $1.3 million in funding, led by Right Click Capital, to assist fellow road users in improving their driving skills. The Sydney-based IoT tech startup is famous for building connected car tech. GoFar, earlier in Jun. 2015, raised over $200,000 on Kickstarter and has ever since expanded to 14 personnel serving thousands of customers in over 53 countries around the world.
The startup, which focuses on building technology solutions to assist drivers, is working on some unique projects like speed alerts to assist drivers to avoid fines, and parking reminders to help them remember where they last parked their vehicle.
The startup, having worked on a 3.5 million km pilot by SIRA and NSW Government, has significantly cut high range speeding by up to 40 percent, with its unique real-time feedback. As per reports, Australian road accident hospitalizations grew from 33,524 in 2008, to 37,082 in 2015, with GoFar, as many as 100 lives could be saved annually.
The startup with its IoT driver assistant tech aims to improve driving efficiency and reduce emissions. The company, having realized that it’s literally not possible to make everyone follow such practices out of altruism, has ensured economic incentives to drivers who do follow.
The firm apart from strengthening its core connected products portfolio, will also utilize the funding to expand its data science team, and expand its overseas presence, especially in the US, by forging more territorial partnerships.