Our accelerator startup Motion-S and FEBIAC have entered into a strategic partnership for the next generation in mobile data management. Congratulations! Following is the official press release on the topic.
Motion-S and FEBIAC announce their strategic partnership. FEBIAC recently invested one million euros in InsurTech startup Motion-S. This long-term partnership will greatly advance the company's international development. The connection will enable Motion-S to create offerings beyond the InsurTech sector that enable classic mobility providers to successfully respond to the new challenges in the changing mobility market.
The availability of mobile data has increased dramatically in recent years. By 2025, all newly registered passenger cars will be "fully connected. This fact opens up a completely new dimension for meeting our individual mobility requirements and significantly simplifying and improving our daily lives. The user, not the vehicle, will be the focus of mobility offerings tomorrow. Motion-S has developed a telematics platform that focuses precisely on this core component. By analyzing mobility data, the company supports the expansion of new mobility offerings, such as "Shared Mobilty" and "Mobility On Demand", by enabling dynamic pricing depending on actual usage.
Motion-S is part of the first "batch" of the Cologne-based InsurLab Germany Accelerator Program, to which five international startups have been selected to be supported for six months by the top management of member companies and other experts. On October 8, 2018, the program will end with a big "Demo Day" in Cologne.
Guido von Scheffer, CEO and Co-Founder of Motion-S: "The investment enables us to execute our strategy for agile global growth. By the end of 2018, we will have doubled our team and accelerated our international growth. This investment also positions Motion-S to be a leader in the changing mobility market. The partnership with FEBIAC, which is very valuable to us, enables us to create offerings for traditional mobility providers that in turn enable our customers to successfully respond to the new challenges in the changing mobility market."
Philippe Dehennin, President of FEBIAC: "I am very pleased that Motion-S and FEBIAC have entered into this partnership. Collecting and analyzing data is one of the key challenges in the automotive industry in the coming years. In Motion-S, we have found a strong partner to help us understand how vehicles are actually used and how they can be further improved for the benefit of all stakeholders. Mobility providers are facing major challenges. Analyzing, correlating and visualizing data will be crucial factors in shaping a sustainable future."
Sebastian Pitzler, Managing Director of InsurLab Germany, the German Accelerator in which Motion-S participates, says: "We are very proud that Motion-S has received this investment and can continue its growth trajectory. We hope that they will remain an active part of our network after the program ends and that we can follow their further development closely."
With this long-term strategic partnership, Motion-S completes its first investment round since its founding in 2014. The equity investment of one million euros enables the InsurTech startup to implement the next steps in the company's development.
In particular, Motion-S will be able to expand its activities beyond the insurtech sector through the partnership with FEBIAC. The focus is on the mobility market with offerings for car sharing, ride sharing, fleet management and "predictive maintenance" for car manufacturers and suppliers.
About Motion-S:
Motion-S is the first spin-off of the University of Luxembourg. The company has been involved in the collection, analysis, correlation and visualization of mobile data since 2014. It uses its telematics platform to analyze the risk that a driver's driving style exposes him or her to of being involved in a minor, moderate, severe or even fatal accident. The analysis is carried out objectively by comparing the driving style with statistically proven causes of accidents and regardless of how the data was collected (smartphone, black box, dongle or directly from the vehicle). The telematics platform also provides information on the influence of driving style on wear and tear and fuel consumption. In addition to accident risk, these are the decisive cost components that can be subjectively influenced by the driver. Not only insurance companies, but also car manufacturers, car-sharing providers and fleet managers are showing strong interest in using the Motion-S telematics platform.
About FEBIAC:
FEBIAC has more than 100 years of experience in the automotive industry and is an association with a very dynamic ability to absorb and adapt new trends. The "New Mobility" division was recently launched and the "Digital 360°" division was newly created. Apart from that, FEBIAC is the organizer of the "Brussels Motor Shows", one of the top automotive exhibitions in Europe.
We congratulate Motion-S on the milestone
