Pitstop Raises $1.5M Seed

Toronto-based  Pitstop has raised $1.5m in Seed funding led by Ripple Ventures.  

Established in 2015 and led by CEO Shiva Bhardwaj, Pitstop is a cloud-based automotive prognostic platform that enables customers to understand and leverage the data available from their automotive assets. It aggregates data to provide real-time actionable information e.g. maintenance alerts, potential failures, and automated service reminders. Also, Pitstop’s mobile app tracks trips, and provides fuel expense reports and analytics on driving behaviors; to name key features.

“With the growth of the global automotive market, and the global connected car market expected to reach $280.36 billion by 2026, we are seeing predictive analytics play a vital role in reducing unexpected downtime and costs for businesses operating in this industry. As business models move from products to services, Pitstop is excited about exploring the opportunities presented by combining Continental’s RVD Platform with our analytics solution, to help our clients navigate the changing transportation industry.” – Shiva Bhardwaj.