Investing in DIMO: The User-Owned Mobility Network
The auto industry is in the midst of a technological revolution: self-driving vehicles, electrifications, and connectivity are converging to unlock new possibilities. Just over a decade ago, Audi released the first car with wifi connectivity, with the size of the global connected car fleet rapidly expanding ever since. It is expected to increase more than threefold in coming years, with McKinsey predicting that 95% of vehicles will have built-in internet connectivity by 2030.
Connected cars generate data that can be used to improve vehicle performance, safety, energy efficiency, and critical automotive services. However, to date, progress in these areas is being left on the table because much of the data generated by connected cars remains siloed and inaccessible. A robust marketplace for car data is constrained by fragmented manufacturers who monopolize their data to maintain competitive advantage — rather than pool their collective data together to enable the creation of a new generation of products and services, capturing the value they create in the process.
Web3, and internet marketplaces more broadly, have demonstrated that empowering and incentivizing individuals is a powerful way to create supply-side liquidity in marketplaces that have been historically enterprise-controlled.
DIMO does exactly that. It is a user-owned mobility network that allows individual car owners to collect and monetize their vehicle data directly, and in turn, create a robust marketplace for developers to build better products and services faster.
DIMO’s marketplace is user owned, and powered by the $DIMO token. Users can earn by connecting their car using the app, or plugging in a DIMO compatible device, which transmits anonymized car data to the marketplace, such that it can be used safely by developers and automotive enterprises. In addition to the app’s single-player mode benefits, users are incentivized to contribute their data to earn token rewards, creating a growth flywheel fueling wide-scale market adoption of DIMO.
In aggregate, this data has value for a wave of new applications and services, to name a few:
Battery intelligence and energy management – Through the transition to electric vehicles, the parallel rise of software enabled vehicles has allowed us to get more data from our cars than ever before. A key datapoint for EV drivers is battery intelligence (in no small part because the battery is often the most expensive part of the vehicle). These additional data insights have benefits for both enterprises and consumers. On the consumer side, real-time battery data can improve the driver experience at charging stations while DIMO’s app can serve owners with direct insights about their battery health and broader EV servicing needs. On the enterprise side, real-time data (e.g. battery performance) can be used in research to improve efficiency and battery health.
Building blocks for better vehicle commerce, mobility insurance, and financing – Vehicle insurance, purchasing, and financing decisions are dependent on car health and vehicle history (e.g. car maintenance). Anonymized, holistic datasets for vehicles means insurance can become smarter and DIMO apps can simplify the process for buying and selling vehicles online. Further, by improving battery life-cycle tracking, DIMO can improve consumer trust in the secondary EV market and help reduce the overall environmental impact from stranded assets.
Combined with Dimo hardware, the Dimo mobile app also provides practical utility for drivers with services such as a digital glovebox, keyless entry, mileage tracking, live diagnostics, and more.
The DIMO network is still in its early stages. Devices only began shipping in August. Still, the DIMO network has already supported a roster of over 4,200 cars collecting real-time data from over 24 million miles driven — and with its mainnet launch, users will start earning DIMO rewards for their data.
The team has continued to execute on its vision with the launch of the DIMO mainnet, opening with partners that will immediately start providing valuable insights and services for DIMO connected vehicles. In parallel to the mainnet launch, DIMO is also reopening its storefront for device purchases that ignite the next wave of connected vehicles.
We are thrilled to back DIMO and its founders – Andy Chatham, Rob Solomon, Yevgeny Khessin and Alex Rawitz – as they build a user-owned mobility network to eventually support all ways people move from one place to another. To join the DIMO network, car owners can download the app and purchase a DIMO device — and if you want to help build the future of mobility data, you can see DIMO’s open positions here.