ULU, a start-up from Eindhoven, will receive half a million euros from the Chinese investment company, Fang Group.
ULU is developing a connected-car system. It defines the behaviour of a device in your car. It shows the state of wear of auto parts. This is interesting for insurance companies that can offer a better premium based on this data.
The Eindhoven company is rolling out the system in the Benelux region. With the additional funding from the Fang Group, this is now gaining momentum. As part of the deal, the Director of the Chinese investment firm gets a place on the board of ULU.
Source: Studio040
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