Among other contributors, Gapless saw FinLab EOS VC Fund, a joint venture between Block.one and FinLab, and insurance entrepreneur Kersten Jodexnis, Tech.eu reported on April 29.
Gapless is going to allocate the raised money to further develop its key product, an application that allows users to record a complete history of vehicles, as well as increase its user base. According to Gapless, it currently manages over 50,000 vehicles on its platform in Germany, the United States and the United Kingdom.
Investing in future technologies
Porsche told Cointelegraph that it is “constantly looking into and investing in future technologies and will evaluate case by case if such products or services can be deployed by Porsche to enhance the customer experience.” The company further stated:
Vehicle data migrates to the blockchain
Tech companies and vehicle manufacturers alike have been developing blockchain-based solutions for tracking the life cycle of automobiles and improving driver experience.
Recently, Indian blockchain firm Smart Sight Innovation developed a blockchain app designed to improve maintenance and inspection of various vehicles. SSI’s app creates a summary of various issues — like repair work and compliance with inspection criteria — faced by a vehicle and allows users to share information with each other.
Earlier in April, General Motors filed a patent application for a continuously updating navigation map system. The system would use blockchain to integrate data from vehicle sensors and build a reliable map for autonomous vehicles.