East-West Digital News
Leta Capital, the venture arm of Russian IT security solution provider Leta Group, has invested $1.5 million in Bright Box, a Russian company specialized in developing tech solutions for the auto industry.
Bright Box’s solution, chistened Remoto, allows clients to remotely control vehicle functions such as climate control and locks via their mobile phone and to receive information such as the vehicle’s location. Remoto also analyzes motorists’ driving style, providing tips on how to improve.
Bright Box took off in 2012 with the launch of Dealer Mobility, a mobile app facilitating interaction between car dealers and their clients. This was followed by Remoto, which the company began working on in mid-2013.
Kia Motors is already offering the product in Russia as an optional accessory with its cars.
“For the mass automobile sector, there is practically no other affordable technology like Remoto out there, so we took the decision to focus on it,” claims Bright Box Chairman of the Board Innokenty Belotsky.
Bright Box had been backed at the seed stage by Clould4auto, a specialized fund launched in 2012.
Leta’s capital injection will allow the startup to develop Remoto further and promote it abroad. “We are currently evaluating the Chinese and Indian markets, which have the most promising growth potential. We announced the launch of Remoto in China in October during the Connected Vehicles Conference,” Belotskiy told East-West Digital News.