ULU is a tracking device that connects the car to the cloud and gathers location, weather and other data and sends it to businesses to help them in decision making for future usage strategy.ULU is mainly used by companies in insurance, dealership and leasing business.
PRODUCTS & SERVICES:
Car tracking app for UBI players.
The company offers ULU’s plug & play device for fleet owners which will collect real-time data and send through the dongle to cloud network and also receive insights about the driving behavior of their customers, clients and employees.
It helps drivers to get low insurance premium based on their driving behavior.
Major customers are Fleet owners, Car dealers, Insurers, etc.
MEDICI analysts will analyze Ulu soon
VALUATION / MARKET CAP:
$7.32 MM in 2016
The company has acquired Chinese hardware manufacturer Velio Technologies, which supplies ULU with the OBD dongles in 2016.
TOTAL FUNDING COMMENT:
The company will use the funds to accelerate sales in the Benelux market, further optimizations and development of the system and growth of the partner ecosystem.