Cobli to launch usage-based insurance

Sao Paulo-based Cobli announced it has raised a R$175 million round led by SoftBank with participation from Qualcomm Ventures, NXTP Ventures, Fifth Wall, and Valor Capital Group, bringing its total funding to R$250 million.

Founded in 2015, Cobli develops IoT tracking technology for corporate fleets to allow clients to monitor fleet vehicles in real-time.

The funding will be used to add an additional 300 employees to the team and to help in the evolution of its service . “In the coming months, we will create new IoT and artificial intelligence products that will make a difference in the logistics sector of Latin America! We will digitize processes, with insurance with dynamic prices and embedded cameras, serving ever larger fleets.”

“Covid and the pandemic have permanently altered the supply chain, bringing up new transparency requirements and faster deliveries. This investment will help Cobli put IoT technology in the hands of fleet managers of all companies in Brazil and accelerate the wave of connectivity in the sector, empowering the best field operations.” – Parker Treacy, co-founder, and CEO.