Mika Rasinkangas, CEO
One of the most popular IoT trends of the day are connected cars. Whether it is about connecting to other smart devices or driving autonomously, the idea of a connected car is undoubtedly here to stay. With more and more cars getting connected with devices and infrastructure, data collected also increases drastically. Example data includes information about the car, the environment around the car, as well as the personal particulars of the driver behind the wheel. Rich user profiles can be created from the collected data about drivers’ behaviors and preferences, area that has been discussed a lot. What is covered much less are the rich data sets that vehicles can gather about their surroundings and the road infrastructure dataplus how value can be extracted from these data sources. As businesses begin to draw incredible value from extracting data insights, connected car data is recognized more like a new form of currency. With that said, not every business can handle the explosion of and the usage of data, particularly when it resides in different sources controlled by different entities. Enter Chordant.
Buffalo, NY and London, UK based Chordant provides data sharing solutions that enable customers to realize value from data. The solutions enabled by Chordant power data-driven applications for cities ®ions as well as mobility services (including those related to connected and autonomous vehicles). Even though spinning out as a separate company happened only in 2019, the technology development of Chordant is almost a decade old. “We continuously refine our offering to expose, transform and share dynamic data, based on the market evolution and learnings from our client engagements” mentions Mika Rasinkangas, President of Chordant.
Chordant understands the enormity of data, stored in different silos in various systems. Bringing the data from disparate systems can be a tough call as data sources in many cases are owned and operated by separate entities. Chordant takes a strategic approach that helps customers to identify valuable data and put it to good uses. Chordant’s offering was first implemented in the transportation space in the UK with one TRANSPORT Data Marketplace service launched in 2017. One of its key customers includes Transport for West Midlands, the second largest region in the UK, which leverages this service for many of its data sharing needs. They use it to effectively manage and run different aspects of transportation in the region including traffic and parking, made possible only by understanding the dynamic data available in different regional silos. Similarly, Chordant has assisted its customers in testing and understanding the behavior of connected and autonomous vehicles. Chordant takes care of the technical, operational, and legal aspects of bringing the data together, allowing its customers and partners to focus on utilizing the data to achieve their goals.
What really distinguishes Chordant from other players in the market is the combination of its offering, deployment flexibility and market experience. For example, some businesses are fine to run on a shared service or public cloud, while others might prefer dedicated service or on-premise solutions. Chordant’s early entry into the space has given it an upper hand market experience. Hence, Chordant was recently selected to provide the data exchange software platform for the United Kingdom’s latest future mobility program named ConVEx enabling the safe, secure, simple, and sustainable exchange of data to facilitate innovation and accelerate the deployment at scale of new mobility services such as connected and autonomous vehicles. The ConVEx facility will accelerate the arrival of new data-driven mobility services that make transport cleaner, safer and more accessible, and which stimulate economic growth. ConVEx will enable organizations to develop international mobility solutions that take advantage of frictionless data exchange between vehicles, fleet operations, traveler and freight services, and transport infrastructure. ConVEx is part-funded by the Centre for Connected and Autonomous Vehicles (CCAV), delivered in partnership with Innovate UK. It is part of the government’s £100 million Testbed UK Fund, supporting the Future of Mobility Grand Challenge. The consortium of investors also includes Jaguar Land Rover, Bosch, Warwick Manufacturing Group and three innovation partners: Valerann, Synaptiv, and Immense.
Chordant definitely has expansion plans chalked out for the days ahead to better serve customers from all across the globe. Over the years, the company has excelled in the transportation space with its unique understanding of determining the value of data. “We started from the transportation. Now as market is evolving, different entities are contacting us and wanting to engage much broadly than we ever thought. This includes vast areas of mobility, smart cities, and economic development,” concludes Rasinkangas.