There is a new driver in place for Minneapolis-based startup Drive Power. Will England, the company’s former CEO and seed investor, is stepping aside and handing the wheel over to Augeo, one of the venture’s founding shareholders.
Drive Power was spun-out of the University of Minnesota’s Office for Technology and Commercialization in January of 2012 with intellectual property invented inside the University of Minnesota’s Intelligent Transportation Systems Institute.
The firm subsequently raised over $1 million in investment capital, including an 815k angel round in May 2012. Drive Power’s flagship product, DriveScribe, enjoyed national attention and press over the past year for its software platform that monitors, coaches, and encourages safe driving habits, with a focus on teenage drivers.