ODO has received further funding received from technology entrepreneur and venture capitalist John Porter as well as launching the next round of funding.
Due to recent significant client and partnership wins, yet to be announced, ODO will be bringing in further capital of £10 million, building on the validation of Porter, now a significant shareholder in the business.
Porter, a founding shareholder of VIVA Investment Partners, along with Richard Parris, Chairman, and Julie Meyer, Director of DRIVE Software Solutions and Chief Executive of VIVA Investment Partners, have supported ODO DRIVE since the acquisition in November 2019 by VIVA.
The £10 million investment round will continue to accelerate the growth of ODO’s fleet management platform, powered by ORACLE Cloud, which has enabled brokers and dealers across to build digital businesses during Covid.
ODO is a premium innovator in operational fleet management of EVs, carbon footprints, connected car data collection and operation, integration of multiple modes of mobility, and logistic industry operations. Its solutions have an installed base of more than 1.5 million vehicles.
During the past 12 months the business has generated significant customer wins for the ODO platform, signing supply/support agreements with a variety of corporates and fleet managers, including Acosta Europe, with UK brokers such as Select Fleet Solutions and leasing companies such as Rivervale.
Over the coming decade, fleet managers will need to maintain a balance between EV and ICE, for which ODO data management provides the required systems.
