Reynolds and Reynolds funds in-car payment system startup

Automotive retail tech giant Reynolds and Reynolds is the lead investor in Sheeva.AI’s $9.25 million Series A funding round announced Thursday.

Sheeva.AI builds an in-vehicle payment software system that works based on vehicle location.

The Tysons Corner, Va., company says its geolocation technology allows drivers to seamlessly pay for refueling, electric vehicle charging, parking, curbside pickup and drive-thru service from their vehicles. I’m here. The technology can detect vehicles at specific gas pumps, battery charging spaces, parking lots, or drive-thru lanes. Payments can then be made via the in-vehicle infotainment screen or the carmaker’s mobile he application.

Sidney Haider, senior vice president at Reynolds and Reynolds, said: “Our dealer and automotive OEM networks see the car as a new digital platform that is as revolutionary as the smartphone is in e-commerce.”

Sheeva.AI also has an office in Detroit. New Delhi; Dresden, Germany. Nagoya, Japan plans to use the funds to hire workers for its production team and expand its automotive partnership.

The funding will help Sheeva.AI add service partners in the refueling, EV charging, parking, toll collection, curbside retail and quick service restaurant drive-thru sectors in the United States, India, Europe and Japan. can also help, says the company.

Evgeny Klochikhin, Founder and CEO of Sheeva.AI, said:

Other investors in the round include Poppe + Potthoff Capital, a German manufacturer that works with Tier 1 auto suppliers and automakers, and Pegasus Tech Ventures, a San Jose, Calif.-based venture capital firm. technology startup.

After completing Techstars’ global accelerator program in 2020, Tier 1 supplier Hagiwara America has seeded Sheeva.AI with a $1 million investment in 2021. Raised additional funding from her Conscious Venture Partners, Baltimore accelerator and venture capital fund.

This article was optimized by the SEO Team at Clickworks SEO