📝 Terminal raises $20M

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Toronto-based telematics platform Terminal has raised $20 million in a Series A funding round led by Battery Ventures, bringing its total raised capital to $26 million since its 2023 founding. Founded by CEO Raghav Midha and CTO Connor Giles out of Y Combinator, the startup provides a universal API that normalizes vehicle data across more than 325 telematics hardware providers, enabling commercial auto insurers, fleet operators, and logistics software companies to access standardized GPS, speed, and video diagnostics. Despite relying on virtually no dedicated sales staff, Terminal secured multiple Fortune 500 customers and major insurers like Intact—whose investment arm Intact Private Capital participated alongside Penske Transportation Solutions and returning backers Y Combinator and Wayfinder Ventures. To support its shift from product development toward commercial expansion, the company hired former BenchSci executive Eran Ben-Ari as COO, plans to expand its team from 17 to 30 employees by year-end, and is upgrading its Toronto headquarters to scale its platform toward processing petabytes of vehicle data.

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