Geotab to Fund Smart Cities Transportation Companies

Geotab will begin providing funding to early-stage companies with smart cities and transportation solutions under its Torque Labs accelerator program launched in late September.

The projects would be in sectors such as big data and analytics, fleet management, autonomous vehicles, smart cities, asset tracking, internet of things hardware, battery-electric vehicles, and vehicle sharing. The investments would go toward technology that could be integrated into the company's telematics platform, according to a release.

"Torque Labs has three companies enrolled and is currently accepting applications," said Glenn Jamieson, VP of corporate development at Geotab. "In addition to the initial funding, the participating teams will have access to the robust Geotab platform including the aggregate data sets derived from the more than 1.8 million Geotab connected vehicles around the world."

The company recently opened a new 90,000-square-foot headquarters in Oakville, Ontario, Canada.