AutoConnexa

Usage-based insurance platform powered by IoT telematics for the automotive sector

Data & Analytics Growth Series A

Overview

AutoConnexa is a usage-based insurance (UBI) and behavior-based insurance solutions provider for the automotive sector, primarily serving carriers, banks, telecommunications companies, and other distribution partners in the European market. The company acts as a technology and distribution intermediary, enabling partners to offer car insurance (RCA) products with dynamic pricing tied to real driving behavior.

The company's core offering is the SmartBox, a vehicle-installed IoT device that captures telematics data -- acceleration, braking, and driving style -- via accelerometer and Bluetooth connectivity. The SmartBox works in conjunction with the Drive Connexa mobile application, which gives policyholders real-time feedback on their driving patterns and eco-performance. This data pipeline enables insurers to move from static demographic-based pricing to personalized, behavior-driven premium calculations.

Founded in 2020 as Connexa InsTech and operating as AutoConnexa, the company has raised over EUR 6M in total funding as of March 2026, including a EUR 4.4M capital increase backed by the Lumen II fund, CDP Venture Capital (the Italian state development bank's venture arm), Credit Agricole, Club degli Investitori, and prior investors MBSpeedUp (a Mediobanca and Founders Factory vehicle), Itas Mutua, and Doorway. The nine-person team is based in Bari, Italy, with a focus on young drivers and eco-conscious customers seeking lower premiums through behavioral improvement.

Products & Services

SmartBox

An IoT device installed in the vehicle's interior that collects real-time driving behavior data on each trip. Uses accelerometer and Bluetooth technology to evaluate driving style, safety, and eco-sustainability metrics.

Key Features

Real-time telemetry capture per trip
Accelerometer and Bluetooth-based data collection
Driving safety and eco-sustainability scoring
Integration with the Drive Connexa mobile application

Target Users: Policyholders enrolled in UBI programs through carrier or distribution partners

Drive Connexa App

A mobile application paired with the SmartBox device that presents driving behavior feedback to the policyholder. Enables end users to monitor and improve their driving style to qualify for personalized insurance rates.

Key Features

Real-time driving style monitoring
Per-trip feedback on safety and eco scores
Integration with UBI pricing adjustments

Target Users: Policyholders; distribution partners for customer engagement

UBI Distribution Platform

AutoConnexa's platform enables banks, insurers, telcos, and automotive companies to distribute usage-based car insurance as a revenue-generating product. AutoConnexa handles the telematics infrastructure and policy distribution layer.