Autonect is offering investors the chance to buy equity through the Seedrs funding platform to help develop its new cloud-based connected vehicle application.
The new app uses a vehicle’s own data to send alerts to dealers and servicing agents so they can push targeted offers and information back to the driver.
Autonect founder Anthony Shemmans said: "Vehicles are continuously producing data about performance, faults and many other things, and it seemed wasteful that nobody was really using that data in real-time.
“We're building Autonect to provide drivers and dealers with a stream of useful information via the OBD2 port and the driver's smartphone, so that support can be arranged and servicing revenues captured more effectively."
Already endorsed through public funding from the European Union Regional Development Fund (ERDF), the company is currently developing the initial version of the app, which will alert dealers if a car breaks down, or acquires a fault which needs urgent attention.
Autonect will also be set up to read airbag deployment and other impact indicators, so dealers and breakdown networks can provide immediate responses to incidents.
In later versions of the app, the company aims for servicing alerts in areas such as brake wear, so that the driver could receive an automated message offering replacement pads at a fixed price, with the facility to book the vehicle in for the work at the touch of a button.
"The idea behind Autonect is to improve dealer revenues, customer retention and driver safety by linking together technology which already exists into one coherent package.
"We genuinely believe it has the potential to change the world for car dealers and drivers,” Shemmans added.
The company is inviting dealer networks to discuss becoming Autonect trial partners starting in June 2015, and is promising free support and usage for early joiners.
Visit www.autonect.com for more information.